May 7, 2026
Tax

Welsh Conservative Senedd 2026 manifesto pledges as tax cut plan reviewed


The Welsh Conservatives unveiled their Senedd Election manifesto in April. Welsh leader Darren Millar said at the launch in Swansea: “Look around you as we stand in the Meridian Tower, the tallest building in Wales. From this height, the horizon isn’t a limit, it’s an invitation to a new beginning.”

Their document contains numerous commitments which bear striking resemblance to those outlined in Reform UK’s corresponding manifesto.

Other manifesto pledges include reducing income tax by 1p, abolishing the Welsh equivalent of stamp duty, and mandating council tax referenda for increases exceeding 5%. The M4 relief road would “finally” be constructed, the Conservative leader vowed during the manifesto launch.

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The tourism levy would likewise be abolished, while new visitor attractions including a military museum for Wales and a Welsh Sports Hall of Fame have been proposed.

Regarding education, the Conservatives state they will boost school funding and allocate resources so that “more money gets into the classroom,”reports Wales Online.

Allow the creation of free schools and academies across Wales.

Parents would be granted the right to withdraw children from sex education and RE lessons.

But is it achievable?

In its assessment of the Conservative manifesto, the IFS think tank concluded there was no “credible plan” to finance the proposed tax reductions. David Phillips, head of devolved and local government finance, said: “The Welsh Conservatives’ flagship proposals are reductions to three of Wales’s devolved taxes: the Welsh rates of income tax, land transaction tax and business rates. But at a time when spending pressures in many areas are rising, a government that wants to cut taxes must also commit to spending less – and the manifesto lacks a credible plan for where these savings will come from.

“These tax changes would not come cheap. Cutting the basic rate of income tax by 1 percentage point would cost £311 million as of 2026-27, while abolishing land transaction tax for main homes would cost around £175 million – with both figures growing over time as the size of the underlying tax bases increases. The combined cost of these two measures is equivalent to around 2% of Welsh Government day-to-day (resource) spending. To put this in context, this is equivalent to around 4% of spending on health and social care, and almost the entire resource budget for the ‘economy, energy and planning’ portfolio. Cuts to business rates would come on top of this. “

Mr Phillips further cautioned over how the party intended to fund its spending commitments, given the notable absence of detail regarding proposed savings. “The Welsh Conservative manifesto contains a list of areas where they would like to spend more: lower tuition fees (or fee refunds) for some university students; investment in major road schemes; and an extra £20 million a year in farm funding. These will all increase financial pressure. But the manifesto has very little to say about where the Conservative party might make the kind of savings needed to offset the cost of its tax cuts,” he wrote.

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