May 18, 2017 / 11:53 AM / 2 months ago

FACTBOX - What are British PM May's plans for corporate reform and Brexit?

Britain's Prime Minister Theresa May's launches her election manifesto in Halifax, May 18, 2017.Phil Noble

LONDON (Reuters) - Setting out her pitch to voters, British Prime Minister said on Thursday she will press on with her approach to Brexit, cut immigration and introduce corporate reform.

Marking a major break with previous Conservative Party orthodoxy, the election document said the party did not believe in "untrammeled markets" and vowed to introduce caps on energy prices to protect consumers.

Below are some of the key points from her Conservative Party's pledges ahead of the June 8 national election:

Corporate Reform

- Ensure foreign ownership of companies controlling important British infrastructure does not undermine security

- Listed companies will be required to nominate a director from the workforce, created a formal employee advisory council or assign specific responsibility for employee representation to a non-executive director

- Employees will have the right to request information relating to the future direction of companies

- Companies with more than 250 employees will be required to publish more data on the pay gap between men and women

Immigration

- Reduce annual net migration to tens of thousands

- New immigration policy that allows Britain to reduce and control the number of people who come to UK from the EU, while still attracting the skilled workers the economy needs

- Continue to bear down on immigration from outside the EU

- Increase earnings thresholds for people wishing to sponsor migrants for family visas

- Toughen the visa requirements for students, introduce new, higher requirements for those wishing to stay and work in Britain after their studies

- Double Immigration Skills Charge levied on companies employing migrant workers to 2,000 pounds a year by the end of the parliament

Brexit

- Negotiate deep and special partnership with the EU which will allow free trade between the UK and the EU’s member states

- Leave EU's single market and customs union

- Deliver smooth, orderly Brexit

- Believe that no deal is better than a bad deal for the UK but will enter the negotiations in a spirit of sincere cooperation and committed to getting the best deal for Britain

- Make sure Britain has control of own laws

- Maintain the Common Travel Area and as frictionless a border as possible for people, goods and services between Northern Ireland and the Republic of Ireland

- Workers' rights conferred on British citizens from EU membership will remain

- Work together in the fight against crime and terrorism, collaborate in science and innovation

- Protect democratic freedom of the people of Gibraltar, overseas territories to remain British for as long as wish

- Final agreement will be subject to a vote in both houses of parliament

- May be specific European programmes in Britain might want to participate and if so, it will be reasonable to make a

contribution

- Days of Britain making vast annual contributions to the European Union will end

- Necessary to agree the terms of future partnership alongside withdrawal, reaching agreement on both within the

two years allowed by Article 50

- Will not bring the European Union’s Charter of Fundamental Rights into UK law

- Will remain signatories to the European Convention on Human Rights for the duration of the next parliament

Economy

- Build 1.5 million more homes by 2022

- Balance government budget deficit by middle of next decade

- Increase national living wage to 60 percent of median earnings by 2020

- Reduce taxes on businesses and working families

- Maintain plans to cut corporation tax to 17 percent by 2020

Protect Consumers

- A safeguard tariff cap to protect energy customers from unacceptable rises

- A personal debt "Breathing Space" scheme so people with serious debt problems can apply for legal protection from further interest, charges and enforcement action

- Crack down on unfair practices for those who own property on a leasehold basis, whereby homeowners pay ground rent to a landlord annually, by tackling escalating ground rents.

- Look at how to increase security for good tenants and encourage landlords to offer longer tenancies as standard.

Reporting by William James; Writing by William Schomberg, editing by Andy Bruce and Guy Faulconbridge

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