Shadow chancellor to unveil Tory plans to cut taxes and regulations

Conservative Party's shadow chancellor Andrew Griffith will unveil his party's economic policies at their conference in Birmingham. These plans include tax cuts, reduced regulations, and lower costs for building homes. The measures are part of a broader effort by the Conservatives to regain voter trust after their 2024 election defeat.

The policies would also aim to alleviate food costs and support the expansion of Heathrow Airport. Griffith plans to label the initiative as the "most ambitious deregulation project in a generation." He will criticize Prime Minister Andy Burnham for pursuing a "socialist fever dream," stating that the Tories' goal is to deliver cheaper homes, lower taxes, and reduced regulation.

The policies proposed by the Conservatives might cut home-building costs by up to £50,000. The party is pushing for a single levy to replace existing agreements and charges that fund community projects during development. They also plan to abolish the roles of Natural England and the Environment Agency, merging their responsibilities under the Department for Environment, Food and Rural Affairs (Defra).

The Conservatives propose scrapping the Extended Packaging Responsibility scheme, which they believe would ease the financial burden on businesses and lower the cost of groceries. Heathrow expansion is expected to be a key focus, with Griffith promising to "do whatever it takes" to overcome delays and increase the airport's capacity.

The move comes after Conservative leader Kemi Badenoch published a 100-page document outlining her party's guiding principles and actions for the next government.