What the Labour and Tory tax pledges would mean for your money

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What the Labour and Tory tax pledges would mean for your money
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The Conservatives, Labour and the Lib Dems have all pledged not to increase income tax, national insurance and VAT in the next parliament

The Tories, Labour and the Lib Dems have started off the official election campaign period by clashing over their tax plans said that the Conservatives would not increase the main rate of VAT after the election, challenging Labour to make the same commitment.

The Conservatives have pledged not to increase VAT, national insurance and income tax in the next Parliament. The Conservatives have also promised to cut taxes for pensioners by creating an “age-related” tax-free allowance, which they called the “ “The way we talk about these taxes is as taxes on working people because the majority of working people will know that the big taxes they pay are those that are set out in their payslip, in their shopping and bills on a day-to-day basis.

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