The Conservative conference yesterday heard how the party would reduce the running costs of government in a bid to put Britain on a "path to a lower tax economy".

While shadow chancellor Oliver Letwin fell short of offering specific tax cuts, he did point to inheritance tax and stamp duty as likely targets under a Tory administration.

Deregulation spokesman John Redwood also promised a bill to slash red tape in the first year of power, without saying which directives he would get rid of.

But the FT questions whether Letwin's sums, based on ambitious plans to reduce the size and scope of the state, are deliverable. The paper also claims that the strategy of co-chairman Lord Saatchi, to focus on process rather than policy, is a gamble.

Shadow ministers will today detail their priorities for action in the first weeks of a Tory government.

Andrew Lansley, the shadow health secretary, will promise that he will abolish central targets and prepare plans for patients to have access to information on performance and infection rates.

Tim Collins, shadow education secretary, will pledge to give head teachers the power to expel disruptive pupils and introduce a Bill for parents to choose the best school for their children.