Saga: Conservatives new tax plans will help older generation

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Saga: Conservatives new tax plans will help older generation

Saga, which specialises in providing financial services for the over-50s, has welcomed the new tax proposals put forward by the Conservative Party, claiming they will benefit older people.

The plans, which include a proposal to increase the level of non-taxable income to £2,000 for pensioners, will help people who are using their savings nest-egg to fund them through their retirement, Saga claims.

Emma Soames, editor at large of Saga Magazine, said: "Overall, pensioners are not the ones with huge mortgages and credit card bills and so should not have to foot the bill for others' borrowing. They are currently being severely punished for their prudence."

However Nick Clegg, the leader of the Lib Dems, suggested that the Conservatives' policy, funded by cuts in government spending, could mean that state pensions are reduced.

He compared Mr Cameron, the Conservative's leader, to a con-man "trying to fool the British public".

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