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The OBR forecasts that debt will rise from 84.2% of GDP last year to 87.3% this year, peaking at 90.2% in 2017-18 as the Bank of England’s monetary policy interventions approach their full effect.
We have made good progress, with the number of new homes being built last year hitting an eight-year high. But for too many, the goal of home ownership remains out of reach.
So the government will consider how we can ensure that the taxation of different ways of working is fair between different individuals, and sustains the tax-base as the economy undergoes rapid change.
DExEU is working closely with the Home Office and other Government departments to identify and develop options to shape our future immigration system, including considering the best way to control the number of people coming to the UK following our exit from the EU.
Since 2010 we’ve cut income tax for 28 million people and taken 4 million people out of income tax altogether.
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