David Cameron will outline plans to transform the economy in his first major speech as prime minister.
The
new leader of the UK has said that the economy was heading in the wrong
direction under Labour and that the economy should be rebalanced in
favour of manufacturing, business and the private sector.
Cameron
has also told critics of a planned rise in capital gains tax (CGT) to
wait for the Budget before coming to any conclusion. Some of Cameron's own senior Tory MPs have attacked the planned rise on
non-business CGT - which could see taxes on the profits of second home
and other asset sales more than double to 40% or 50% - as a tax on the
middle classes.
"People
don't yet know what our proposals are. Everyone's getting a bit ahead
of themselves on this issue. We have to be calm about this because in a
coalition there are inevitably going to be arguments and discussions
about tax policy and other policies," Mr Cameron told GMTV.
The new collation government has made reducing the record £156bn deficit and getting people back into work as their priority.
"The
Prime Minister is absolutely right to lead from the front and focus
this government's attention on rebalancing the economy in favour of
manufacturing and the private sector," said David Frost, director general of the British Chambers of Commerce.
"For too long the
focus has been on consumption, debt, the public sector and financial
services. If we have learnt anything from the last few years, it is
that businesses up and down the country will be the real source of
future job creation and economic growth."
