Mr Cameron said that he wanted to “give people back some of their hard-earned money”, which economists have taken as a sign that the Tories will pledge to cut taxes as part of their election manifesto.
Declaring that the time could be right, because the economy is “getting stronger”, the Prime Minister’s remarks come just days after the Chancellor said that taxes would not need to rise after the election, which has led to the speculation that these could be strong hints on taxation.
When asked what Mr Osborne had meant by his remarks, the Prime Minister said that the Chancellor had been referring to the Tories’ plans, which showed that while there is a need for further spending reductions, they do not see a need for tax rises.
However, hedging his bets, Mr Cameron said that he could not give a “blanket assurance” that there would not be higher taxes after the election, given the “uncertainties” around public finances.
Describing himself as a “low-tax Conservative, the Prime Minister talked about being “liberated” from a coalition government and said that he is aiming for victory at the next election.
His comments have fuelled speculation that he and the Chancellor might be planning on a further tax give-away in the run-up to the election, as economists predict that the signs of recovery in the economy are stronger than previously hoped.
Some have even forecast a doubling of the growth from the previous quarter’s 0.3 per cent, while others predict a rise to even 0.8 per cent, which would be the fastest pace of growth since before the recession began.
For more information, please contact Glazers, Chartered Accountants London or visit www.glazers.co.uk
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