According to the budget documentation the government spends about £450 billion per year, much of this is raised through taxation and the rest through borrowing. Some of this is wasted and some is spent on projects which do not benefit the nation.

Based on the TGI plan and the Specific action plan, the following expenditure as a percentage of TGI is planned:

1)   Repayment of Interest on Government debt = 5% (Currently 4.71%)

2)   Repayment of Debt = 7.5%                                    (Currently 0%)
3)   Savings for Growth = 5%                                        (Currently 0%)
4)   Welfare = 25%                                                        (Currently 35.25%)
5)   Health = 17.5%                                                       (Currently 18.97%)
6)   Education = 15%                                                    (Currently 13.32%)
7)   Defence = 5%                                                         (Currently 6.05%)
8)   Public Order = 6%                                                  (Currently 4.57%)
9)   Housing & environment = 4%                                 (Currently 3.76%)
10) Integrated Transport = 6%                                     (Currently 3.9%)
11) Industry & Employment = 4%                                 (Currently 3.23%)

At all time TGI  will = Total Expenditure



POLICIES.

Our policy is to reduce the borrowing and simplify the taxation system. This will mean removing some taxes and adding others, such that the expenditure requirements can be met.
The simplification means all taxes will fall into one of 5 groups, each will provide a fixed percentage of the Total Government Income (TGI), these are:
1) Corporation & Business Tax to = 15% TGI
2) Income Tax (PAYE & NI etc.) to = 50% TGI
3) Environmental Tax (Fuel duty, noise tax etc.) = 15 % TGI
4) Value Added Tax (VAT) = 15% TGI
5) Local Tax = 5% TG



ACTIONS.

1) Removal of tax on all bank and building society accounts where total interest is less than the personal allowance.

2) Merge PAYE/NI and increase number of TAX inspectors to ensure everyone pays the correct tax

3) Change Corporation tax to focus on Turnover and not profit.

4) Phasing out of inheritance tax.

5) Phasing out of stamp duty from house purchases of less than £750,000