David Cameron will today set out the Conservative Party’s third manifesto theme – a Britain that rewards work. It comes as new Treasury analysis shows that by the end of the next Government, a typical basic rate taxpayer could be paying at least £8,000 less in income tax since 2010. The Prime Minister will explain that Britain is at a tax moment, when after years of sacrifice, the British people deserve a reward. He will say the people whose hard work and personal sacrifices have got us through these difficult times should come first. So where we can ensure people keep more of their own hard-earned money, we should.
He will also set out the stark choice at the election, between Ed Miliband and Nick Clegg – the enemies of aspiration – who have confirmed they intend to tax people more, and the Conservatives as the only party with a clear commitment to cut taxes and reward hardworking people who aspire to a better life.
On why he believes in tax cuts, Mr Cameron is expected to say: "I sometimes get asked: why do I believe in tax cuts so much? It’s simple, because I trust people more than I do politicians. I think people know how to spend their money better than those in Westminster do. I believe that if people have worked hard and earned their own money, they should be able to spend it on a holiday, or a nice meal out, or some new clothes for their children – and that it shouldn’t be thrown up the wall to satisfy the latest gimmick dreamed up in Whitehall. This is the right thing to do: it’s your money, not the Government’s, and so you should keep it."
On rewarding people, David Cameron is expected say: "But there’s another reason for tax cuts, and we’re at that moment now – what I would call the tax moment, when after years of sacrifice, the British people deserve a reward. Let me put it like this: in the wake of Labour’s Great Recession, these past few years have incredibly hard for this country. But after some dark times, we are coming out the other side. And as we do, I’m clear – the people whose hard work and personal sacrifices have got us through these difficult times should come first. So it’s right that where we can ensure people keep more of their own hard-earned money, we should."
On how he will achieve this, Mr Cameron is expected to say: "In this Parliament we have halved the deficit as a percentage of GDP and cut people’s income tax at a cost of over £10 billion – proving that tax cuts and deficit reduction can go hand in hand. In the next Parliament, we will do the same again: eliminating the remaining half of the deficit and
cutting income tax at a cost of over £7 billion."
On the choice at the election, David Cameron is expected say: "We are the low tax, tax cutting party. And this May, we have a huge fight on our hands. Before us lie what I would call the enemies of aspiration – and they are the Labour party and the Liberal Democrat party. The country needs to be clear: two weeks ago, Ed Miliband admitted that taxes on
working people would rise under Labour. One week ago, Nick Clegg admitted, yes, he’d tax people more too. The only party with a clear commitment to cut the taxes and back hardworking people who aspire to a better life is here, in this hall. So from now until May, this party is going to do what it always does when taking on the enemies of aspiration – we’re going to make the argument for lower taxes, and we’re going to fight this battle
with every bone in our body. Because yes, nothing less than the financial security of every family depends on it."