David Cameron will on Friday seek to reconnect with the core Tory vote by signalling support for a Conservative policy report that will recommend £14bn of tax cuts.

The Tory leadership will not officially endorse the proposals from its economic competitiveness group, which include the scrapping of inheritance tax and stamp duty on shares. But George Osborne, the shadow chancellor, is expected to support the overall call for lower taxes when he speaks at Friday’s launch of the report, alongside the head of the policy group, the Thatcherite former cabinet minister John Redwood.