IoD proposes “The Route Back to Growth” (October 2011)

Plan to boost the economy

The Institute of Directors (IoD) has proposed a new economic growth plan which aims to improve business investment and development. 'The Route Back to Growth' contains several recommendations including:

1. Monetary policy - Quantitative easing; launch QE2 in October with an initial £50 billion Quantitative easing; launch QE2 in October with an initial £50 billion
2. Fiscal rules - A new 35% of GDP public spending target by 2020 A new 35% of GDP public spending target by 2020
3. Taxation - Remove the 50% top rate of income tax Remove the 50% top rate of income tax
4. Taxation - Extended corporation tax cuts to 15% by 2020 Extended corporation tax cuts to 15% by 2020
5. EU policy - Use future Treaty and/or budget negotiations to repatriate key employment powers Use future Treaty and/or budget negotiations to repatriate key employment powers
6. Infrastructure - Ring-fence transport, energy and ITC infrastructure spending Ring-fence transport, energy and ITC infrastructure spending
7. Energy policy - Do no harm - don't sacrifice UK competitiveness for green credentials Do no harm - don't sacrifice UK competitiveness for green credentials
8. Education - Further expand free school provision with profit incentives Further expand free school provision with profit incentives
9. Taxation - End the £100,000 personal allowance anomaly End the £100,000 personal allowance anomaly
10. Competition policy - Intensify competition policy both domestically and within the EU Intensify competition policy both domestically and within the EU
11. Regulation policy - Radical civil service reforms to promote de-regulation Radical civil service reforms to promote de-regulation
12. Employment Law - Nine major changes to free up the labour market Nine major changes to free up the labour market
13. Planning - Incremental 'Green Belt' and developer rights to propose, and reduce political influence over infrastructure planning Incremental 'Green Belt' and developer rights to propose, and reduce political influence over infrastructure planning
14. Public sector performances - Greater decentralisation of public sector pay Greater decentralisation of public sector pay
15. Public sector performances - No watering down of reforms to unfunded public sector pensions No watering down of reforms to unfunded public sector pensions

The IoD claims that if its suggestions are adopted by the government, it could make the UK one of the most advanced economies in the world.