Tories in low taxation and public spending vow

Date: 10th December 2008

Reduced public spending now is the key to lower taxation in the future, according to the Conservatives.

At a recent speech, the Tory leader David Cameron pledged to cut public spending and reel in proposed taxation hikes for 2010 and beyond.

According to Mr Cameron, such a strategy would avert the need for the government's proposed 45p income taxation band for top earners, which is to be introduced in 2011.

Speaking to an audience at the London School of Economics, he commented: "Borrowing is now going beyond acceptable limits.

"Taxes are already too high, and Labour's plans for even more taxes will act as a drag anchor on recovery."

He added that high taxation will discourage people from investing in the country and "destroy" existing jobs for business start-ups, rather than make new ones.

Earlier this week, Unbiased.co.uk reported that £1.9 billion of inheritance taxation had been paid unnecessarily last year.