Conservatives promise law to prevent tax rises before 2020

The Conservatives will introduce a law that will guarantee no rises in income tax rates, VAT or national insurance before 2020, the party is to announce.

David Cameron will say he will introduce the new legislation within 100 days of assuming office, guaranteeing a "tax lock" to ensure rates will not rise during the next Parliament, the BBC reports. But Labour dismissed the pledge as a "desperate last-minute gimmick", accusing the Conservatives of planning a £3.8bn raid on tax credits for the lower-paid, which will put family budgets at risk. Labour also vowed not to raise VAT, national insurance, or the main and higher rates of income tax, while returning the top rate from 45p to 50p. Cameron pledged to raise the tax-free personal ...