Cameron to abolish savings taxes

Speaking today, the Leader of the Opposition claimed Gordon Brown's plans to increase spending to revive the UK economy would leave Britain with a "catastrophic legacy of debt". The Tory leader says he would scrap taxes on savings interest for basic rate taxpayers, currently 20%, and increase non-taxable income for pensioners by £2,000 if he were Prime Minister. He says the tax cuts would be funded by lower public spending, and claims around £5bn could be saved by restricting public spending increased to 1% in real terms for the next two years. The Conservatives estimate the tax cuts w...