Strong Foundations
- Economic Stability
- Secure Borders
- National Security
Our milestones for change can only be delivered on the foundations of a stable economy, secure borders and national security.
In an increasingly unstable and volatile world, these foundations are vital to ensure the United Kingdom remains resilient and responsive in the face of potential future shocks – be that conflict overseas, threats on our shores, global economic downturns or humanitarian crises. Without the foundations of a stable economy, secure borders and national security we will not be able to deliver our missions and a decade of national renewal.
Economic Stability
Growing the economy to put more money in working people’s pockets, fix the NHS and rebuild Britain depends on economic stability.
In recent years, the cost of living crisis stretched household finances to their limit, with inflation hitting a peak of above 11%. Net Financial Debt has exceeded 80% of our GDP and a HM Treasury audit revealed a forecast overspend of £22 billion this year alone.
This government is committed to the principles of sound money and economic responsibility.
Only in sticking to these principles can we grow our economy, and keep taxes as low, and inflation as stable, as possible. The Budget delivered on that, restoring stability to public finances while rebuilding public services. Economic stability and certainty is what we know our investors, businesses and households need.
Economic stability requires concerted action across 4 areas. First, we will deliver macroeconomic stability by boosting the UK’s resilience to shocks and supporting the independent Monetary Policy Committee as it acts to return inflation to the 2% target sustainably.
Second, we will provide financial stability by working with the Bank of England, financial sector regulators and international partners to ensure the resilience of the system that underpins our economy.
Third, we will deliver fiscal stability through our robust fiscal rules, moving the current budget into balance so that day-to-day costs are met by revenues and reducing net financial debt (Public Sector Net Financial Liabilities) as a share of the economy.
We have already gone further than any previous government by introducing a legally binding “fiscal lock” that ensures any significant fiscal announcement is independently assessed by the Office for Budget Responsibility.
And fourth, we will deliver long term policy certainty, with a wider range of strategic measures including one major fiscal event a year, longer term capital budgets, a business tax roadmap, and multi-year local government settlements.
Secure Borders
Britain is a tolerant and compassionate country, with a proud tradition of welcoming people fleeing persecution and abuse. But the system needs to be controlled and managed and we need strong borders.
The small boats crisis, fuelled by dangerous organised crime gangs, is undermining our security and costing lives. And the UK public need to be confident that the rules are respected and enforced and that the overall immigration system is under control.
The asylum system has been pushed into crisis, with backlogs reaching record levels and costs hitting £5.4 billion in the last financial year, up more than £1.4 billion on the year before.
At the same time net migration grew almost 5 times higher in the space of 4 years, driven by record levels of overseas recruitment.
We are acting to restore order to the asylum system, clearing the backlog, and ensuring that the rules are properly respected and enforced by increasing returns. Only by doing this, and working upstream to smash the gangs, will we reduce overall small boat crossings.
We have already delivered on our first step of establishing a Border Security Command, which will ensure every part of the system plays its part in reducing the overall flow of small boat journeys that cost lives.
We have also increased removals of those with no right to be here, with the largest ever removal flight taking off in the first few weeks of this government. We will continue to deliver on the commitments set out in the Manifesto, to clear the asylum backlog so we can end the use of asylum hotels, reducing the overall cost to the taxpayer.
We will restore order to the immigration system, reducing net migration from the record high levels seen in recent years by reforming our approach to the labour market, addressing skills shortages here in the UK, and clamping down on employers who exploit the visa system.
National Security
The first duty of the government is to keep the country safe: national security underpins all our missions.
The threat to the UK is growing, driven by global instability, conflict, Russian aggression, the systemic challenge posed by China, climate change, rapid technological acceleration, and a greater willingness of states, terrorists, and criminals to act against our country and our allies.
We must make the country safer, more secure, and increasingly resilient against these interconnected threats. Working with our international partners, we will act to prevent harm; deter and disrupt threats; respond effectively to incidents; and recover swiftly.
We will work tirelessly to enhance the UK’s security, maintaining the transatlantic alliance and our unshakeable commitment to NATO, deepening cooperation with the EU, continuing our steadfast support to Ukraine for as long as is needed, and maintaining our commitment to a free and open Indo-Pacific.
At the same time, we will strengthen and modernise our armed forces, set out the path to spending 2.5% of GDP on defence in the spring and sustain our nuclear deterrent. We are restoring Britain’s global leadership on prevention and resolution of conflict, upholding the rules based international system and rule of law as well as the shift to secure energy through clean power, and tackling illegal migration.
We will strengthen our security at home, continuing to counter the enduring and evolving terrorism and state-based security threats, harnessing cutting edge technology and ensuring our intelligence agencies and law enforcement bodies have the powers and capabilities they need.
And we will drive secure growth and make the UK more resilient to the full range of risks, including climate change and those set out in the National Risk Register, such as cyber threats, food security, and disruption to critical supply chains.