The Institute of Directors (IoD) has today released a 15-point Route Back to Growth report, which it claims “could make the UK one of the most competitive advanced economies in the world by 2020-25”.
The IoD claims that the policy proposals have “real political conviction”. The company continues to support the Spending Review and claim to oppose a “fiscal plan B”.Below are the main points of the Route Back Growth report:
1) Quantitative easing by the Bank of England
2) Cutting corporation tax to 15% by 2020. It currently stands at 26% and the government plans to reduce this to 23% by 2014
3) Reducing the 50% top rate of income tax
4) Improve labour market flexibility
5) Repatriate key employer power rules from the EU
6) Ring-fence transport, energy and IT and telecoms spending
7) Ensuring that energy policy "does not sacrifice UK competitiveness for green credentials"
8) Expand free school provision with profit incentives
9) End the £100,000 personal allowance taxation anomaly
10) Intensify competition policy, both domestically and within the EU
11) Carry out radical civil service reforms to promote deregulation
12) Reduce political influence over infrastructure planning
13) Greater decentralisation of public sector pay
14) No watering down of public sector pension reforms
15) Reduce public spending to 35% of GDP by 2020










