LONDON, May 25 (Reuters) - Britain's new coalition government set out its goals and plans for legislation over the next 18 months on Tuesday.
These are some of the aims of the Conservative-Liberal Democrat government formed after the May 6 election.
GOALS WHICH DO NOT REQUIRE LEGISLATION
BUDGET DEFICIT
The new government set reducing the deficit and restoring economic growth as its top priority. An emergency budget on June 22 will set out a plan to eliminate the bulk of the structural deficit over the next five years.
TAX SYSTEM
Create a fairer tax system to help those on lower and middle incomes. The government will announce a significant increase in the personal allowance for income tax in its first budget. The basic state pension will increase in line with average earnings from April 2011.
IMMIGRATION
The government wants an annual limit on non-European Union economic migrants admitted to Britain but has set no numbers, beyond saying it wants to limit net migration to tens of thousands of people a year.
HOUSE OF LORDS
The government will make proposals to replace the current unelected upper house of parliament with a chamber that is wholly or mainly elected on the basis of proportional representation.
HIGH-SPEED BROADBAND, HIGH-SPEED RAIL
The government will encourage investment in new high-speed broadband Internet connections and "enable the construction" of a high-speed rail network.
PLANNED LEGISLATION
OFFICE OF BUDGET RESPONSIBILITY
Create an independent Office for Budget Responsibility, headed by former Bank of England policymaker Alan Budd, to publish fiscal forecasts and recommendations.
NATIONAL INSURANCE
Increase rates of National Insurance Contributions (NICs), a payroll tax, from April 2011. This will raise 9 billion pounds ($12.87 billion), which will be used to finance an increase in the income tax personal allowance and a rise in the NICs threshold.
WELFARE REFORM
Simplify the benefits system to improve work incentives.
PENSION AND SAVINGS BILL
Review plans to to raise the state pension age to 66 between 2024 and 2026 followed by two further increases at 10-year intervals.
FINANCIAL REFORM
Give the Bank of England control of macro-prudential regulation -- the financial system as a whole, and oversight of micro-prudential regulation -- the day-to-day business of individual institutions.
EQUITABLE LIFE
Permit payments to policyholders of British insurance firm Equitable Life [EQL.UL] who lost money after the company nearly collapsed in 2000.
PUBLIC BODIES REFORM BILL
Cut the cost of bureaucracy and number of public bodies, producing expected year-on-year savings of one billion pounds.
AIRPORT REGULATION
Reform the economic regulation of airports to benefit passengers. Having ruled out new runways in the heavily populated southeast of England, the government plans to drive investment in airport facilities for passengers and remove unnecessary regulation.
POSTAL SERVICES
Part-privatise state-owned mail carrier Royal Mail [GBPO.UL], which faces a pension fund deficit estimated at up to 10 billion pounds. The plan could face resistance from unions.
ENERGY
Improve energy efficiency in homes and businesses. Create a framework to deliver secure, low-carbon energy supplies and fair competition in energy markets. Legislation may contain measures to regulate carbon emissions from coal-fired power stations, reform energy markets, set a framework to develop a "smart" electricity grid and create a "green" investment bank.
ACADEMIES
Enable more schools to become academies and give teachers greater freedom over the curriculum.
PARLIAMENTARY REFORM
Introduce fixed-term, five-year parliaments and pave the way for a referendum on the alternative vote electoral system to replace the current first-past-the-post system.
FREEDOM BILL
Scrap the previous Labour government's plans for identity cards and restrict the scope of the existing DNA database.
EUROPEAN UNION
Give voters a say in a referendum on any future proposed transfer of power to the European Union. No government would be able to join the euro single currency without voter approval. (Reporting by Adrian Croft; Editing by Michael Taylor)