Tories in new tax pledge

Date: 29th September 2008

The Conservative Party this weekend pledged that they would not use taxpayers' money to bail-out financial firms.

Shadow chancellor George Osbourne made the claim at a conference in Birmingham on Sunday (September 28th), in the wake of the Treasury announcing it would be part-nationalising Bradford and Bingley.

He promised delegates that - unlike Labour - the Conservatives would not use taxpayers' funds to cover the mistakes of City bankers.

The shadow chancellor said: "We will do what it takes to preserve liquidity and protect the deposits of ordinary savers, but let me warn you today - I will not tax the family earning £20,000 to carry on paying the bonuses of the banker earning £2 million."

During the conference, Mr Osborne also promised a stabiliser on fuel duties, which would see the tax levied on petrol and diesel increase and decrease as oil prices fluctuated.

The Liberal Democrat Party announced earlier in September that they would introduce breaks in taxation for people who live healthy lifestyles.