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Politics 1
Politics 1
[30 marks]
1. Economy
- Modern Party remains wedded to the power of the market and
private property to drive wealth creation.
- 2019 manifesto emphasised the importance of using aspiration to
unleash enterprise and remained committed to the tax cuts of the
Cameron years, with its pledge not to raise the income tax, VAT or
National Insurance.
Thatcherite influences:
- Fiscal responsibility: the 2019 manifesto commitment to not borrowing
to fund day-to-day spending, and limiting infrastructure spending to no
more than 3% of GDP with the aim of reducing the debt.
- Boris Johnson remains committed to further tax cuts for higher earners,
as was seen during his leadership campaign where he pledged to raise
the threshold for paying the 40p tax rate from 50,000 pounds to 80,000
pounds per year.
Thatcherite influences:
- Desire to roll back the state and tackle the debt and deficit. The benefits
system was cut and restructured with the introduction of the benefits
cap, universal credit and the benefits freeze during the period 2010 to
2019.
- Cuts to public spending needed to be made, which had wider impacts on
education, the NHS and the provision of community services at a local
level, while more competition was needed in the delivery of public
services to increase efficiency.
Thatcherite infleuces:
- There are the hard Bresiteers, who had formed the European Reform
Group (ERG) to push for a complete break with Europe to focus on a turn
towards America, free trad deals with the wider world and a popular
nationalism of returning power to the UK to make its own deals.