Economic Policy

During the 1970s, inflation rates reached 25% with food prices rising by about 300% over the next 10 years. The recession of the early 1980s was characterised by falling output, factory closures and rising unemployment. With inflation reaching a 40-year high of 9.4% in July 2022, the United Kingdom faces the risk of a slowing economy with the cost of food, fuel and mortgages set to rise further.

Alliance for Democracy and Freedom believes in low tax and small government. By reversing the constraining rises in corporation tax and National Insurance Contributions, we will stimulate commerce and sustain the supply of goods and services, thereby helping to lower inflation. We will regrow our economy by encouraging small and medium sized enterprises to flourish and thrive.

In addition, we believe the burden of taxation should not fall exclusively upon the consumer. To address inequalities in the current system – such as Inheritance Tax – we plan to execute a series of measures that are designed to simplify and reform.

In conjunction with tax cuts to maintain economic production and avoid recession, prudent increase in interest rates to about 2% to 4% will ensure sensible levels of borrowing, with resultant stabilisation of prices and effective curb on inflation.

To supplant the taxation measures above and bring about small government a comprehensive review of capital and revenue spending will be carried out with the aim of reprioritising projects and eliminating waste with the aim of streamlining government commitments to the benefit of all taxpayers.

Sensible increase in short-term borrowing with the repayment spread over a longer timescale should help to moderate temporary swings in spending and income tax revenue while allowing tax rates to be optimised for long-term growth.

It is envisaged that through the combination of measures outlined that the reliance upon borrowing may be reduced and with it the proportion of public funds expended on servicing  debt likewise decreased.

Alliance for Democracy and Freedom also believes that the failure to capitalise on Brexit and tardiness in decoupling from EU regulation stifle our agriculture and food production while at the same time perpetuate the neglect of our fishing industries and coastal communities.  Such a drag on our economy and burden on the British people is inexcusable.

In conclusion, Alliance for Democracy and Freedom is committed to lowering tax rates, liberalising regulations and maximising the opportunities of Brexit to help the people of the United Kingdom succeed and prosper.