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Web extra: Tory tax plans

George Osborne
The Conservatives say savers are "innocent victims" of the downturn

As savings rates plunge, the Conservative Party has outlined plans to offer 4bn in tax cuts for savers and pensioners.

If in power, the party would scrap taxes paid by basic rate taxpayers on savings interest and raise the level of non-taxable income for pensioners by 2,000 a year.

The measures would be funded by lower public spending.

The shadow chancellor, George Osborne, explains their proposals in detail.

Further information/related stories:

Money Box



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