Griffith, who was appointed shadow chancellor last month, told the BBC that Labor had raised taxes in its last two budgets and that “the pips are really impressive”.
As well as ruling out tax rises, he said the government should “suspend the job-destroying bureaucratic red tape”, adding: “Whatever its intentions, it is causing a real chill in the job market.”
The Conservatives pointed to Federation of Small Business figures that tax compliance costs small businesses £25 billion a year, with the average small business spending 44 hours a year on tax administration.
The party nominated Lord McKinley of Richborough, former Member of Parliament for South Thanet., and Robert Colville, the retiring director of the Center for Policy Research think tank, will produce a report on reducing regulation for small businesses.
Griffith said governments must “balance the books” and that the Conservatives would change the welfare system, “cut” the amount spent on foreign aid and cut “some of central Whitehall spending” to save money.
Over the weekend the Mail on Sunday reported, external that the Conservatives could promise to scrap the inheritance tax if they win the next election, with the policy potentially announced at the party’s annual conference in October.
Asked if he would take such a step, Griffith said there was “still work to be done,” adding: “We have to totally come up with the money.”
“I will be responsible and I only want to make promises that I can keep,” he said.
He added that he recently went on a study tour to Sweden, which abolished inheritance taxes in 2005.
Reform UK had previously said it wanted to cut inheritance tax, but speaking at the party conference, party officials said they wanted to cut inheritance tax. Treasury spokesman Robert Jenrick said it would not be a priority.
“This is a brave chancellor who would say that I would rather give preference to 36 thousand families than 40 million. [income] taxpayers,” he said at an event dedicated to the reform conference.
Asked whether getting rid of the estate tax would lead to tax cuts for the wealthy, Griffith said it would promote economic growth and that the wealthiest people could often “arrange their affairs” to avoid the tax.
