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The Labour party, led by Brown, have been accusing the Conservatives of being the do-nothing party. Well, that tripe has to end now. David Cameron has announced the end of taxes on savings (for those on basic rate taxes) and the increasing of tax allowances for older people by £2,000.
Of course the Governments tripe was always tripe because apart from doing nothing the Conservatives have announced, over a number of months, the following:
- freeze council tax for two years
- abolish Stamp Duty for nine out of ten first-time buyers
- provide tax cuts for new jobs with a £2.6bn package of tax breaks to get people into work, funded by money that would otherwise go on unemployment benefit
- cut the main rate of corporation tax to 25p and the small companies‘ rate to 20p, paid for by scrapping complex reliefs and allowances
- introduce a £50bn National Loan Guarantee Scheme to underwrite bank lending to businesses and get credit flowing again
- give small and medium-sized businesses a six-month VAT holiday, funded by a 7.5% interest rate on delayed payments
- cut National Insurance by 1% for six months for firms with fewer than five employees, paid for from the above changes to the company tax regime
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