Tories hint at taxation cuts for savers

Date: 19th December 2008

The Conservatives have hinted that they would look to cut taxation for savers and pensioners.

Writing for the Telegraph, Shadow Chancellor George Osborne lamented the "rapid reduction" of the Bank of England's base rate, stating that it was hitting those with small amounts of savings.

He also pointed to the effect a falling interest rate environment was having on British pensioners, claiming that it was leading to declining living standards.

Mr Osborne wrote in the Telegraph: "Savers and pensioners are the forgotten victims of Labour's recession.

"They are innocent bystanders and it's simply not good enough for the government to walk on by."

He concluded by suggesting that where the prime minister had "forgotten" about savers, the Conservatives would not - suggesting that the party would consider tax cuts.

In other news, a recent investigation by the Chartered Institute of Taxation found that British accountants were spending an increasing amount of time dealing with their clients.