In his speech this lunchtime Cameron made four key announcements...
He also said...
• Abolishing income tax on savings for everyone on the basic rate of tax
• Raising the tax allowance for pensioners by £2,000
• Publishing reports, for consultation, on green tech incubators and the green environmental market
• Undertaking a full-scale review of the creative industries
Instead of Labour doing nothing effective they should take up our idea of a self-financing National Loan Guarantee Scheme to help businesses get through these tough times and help keep people in work. It’s now been over five weeks since we proposed this. Five weeks in which more businesses have gone to the wall – and more jobs have been lost. Five weeks in which Labour have done nothing. The Government could and should take that action now, today.Just as a reminder, these are some of the other Conservative initiatives to ameliorate the effects of the recession...
* freeze council tax for two yearsJust thought you'd like to know.
* abolish Stamp Duty for nine out of ten first-time buyers
* provide tax cuts for new jobs with a £2.6bn package of tax breaks to get people into work, funded by money that would otherwise go on unemployment benefit
* cut the main rate of corporation tax to 25p and the small companies' rate to 20p, paid for by scrapping complex reliefs and allowances
* introduce a £50bn National Loan Guarantee Scheme to underwrite bank lending to businesses and get credit flowing again
* give small and medium-sized businesses a six-month VAT holiday, funded by a 7.5% interest rate on delayed payments
* cut National Insurance by 1% for six months for firms with fewer than five employees, paid for from the above changes to the company tax regime
UPDATE: I've also written on this subject for CommentIsFree.