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Conservative shadow chancellor Andrew Griffith is set to reveal his vision for the UK economy, focusing on a series of measures aimed at cutting taxes, reducing bureaucracy, and lowering the costs associated with house-building. His proposals will be detailed during the second day of the party’s conference in Birmingham, where he will also address plans to bring down food prices, back the expansion of Heathrow Airport, and propose the abolition of both Natural England and the Environment Agency.
Among the policy ideas Griffith plans to discuss is the replacement of existing agreements that require developers to contribute financially to the communities where they build. He describes his strategy as the “most ambitious deregulation project in a generation,” while Reform UK has claimed the Conservative Party is adopting some of their policies. Griffith’s announcement follows the publication of a 100-page document outlining the Conservative leader Kemi Badenoch’s principles and priorities should the party return to power after the next general election.
Since their significant defeat in the 2024 general election, the Conservatives have been working to regain voter trust and rebuild their reputation. They have faced ongoing criticism from political opponents over their governance, especially concerning economic management from 2010 to 2024. In his upcoming speech, Griffith is expected to assert that no other party can rescue the UK economy, emphasizing, “Only we can inject reality, tell the hard truths and make this a country we are proud to hand on to the next generation.” He will also challenge Prime Minister Andy Burnham’s agenda, accusing him of pursuing a “socialist fever dream of the 1970s,” while reaffirming Tory commitments to providing “cheaper homes, lower taxes, and less red tape.”
Additional details about Conservative plans will be delivered by shadow ministers throughout Monday, including a move to scrap environmental and energy efficiency regulations such as the future homes standard. The party argues these changes could reduce the cost of new housing by up to £50,000, potentially lowering prices for buyers. The Conservatives intend to replace current developer levies, namely section 106 agreements and the Community Infrastructure Levy, with a single charge designed to streamline the process and better serve local residents. They have also criticized the roles of Natural England and the Environment Agency, proposing to dissolve both and transfer their responsibilities to the Department for the Environment, Food and Rural Affairs (Defra).
Furthermore, the party plans to abolish the Extended Packaging Responsibility (EPR) scheme, which obliges companies to cover packaging waste management costs. They believe this move will ease the financial burden on businesses and could translate into savings on everyday shopping. On the subject of Heathrow, Griffith is expected to declare that a future Conservative government will prioritize resolving delays and enhancing capacity by supporting a third runway. While expansion plans were abandoned by the Tory-led coalition in 2010, the project has been backed by former Chancellor Rachel Reeves. However, Prime Minister Burnham has maintained a cautious stance, describing the matter as chiefly for London and its residents to decide.
Criticism from opposition figures has been forthcoming, with Liberal Democrat deputy leader Daisy Cooper accusing the Conservatives of “cementing their position as a pointless anti-growth anti-business party,” especially after they rejected closer ties with Europe. Cooper added that the party’s economic claims lack credibility due to a “litany of fantasy-land financial pledges.” Meanwhile, Reform UK’s economy spokesman Robert Jenrick claims the Tories are borrowing their policies but cannot match Reform’s promise to increase the tax-free personal allowance to £15,000
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