David Cameron unveils plans to encourage saving
www.moneynews.co.uk > General finance > David Cameron unveils plans to encourage saving
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Money News |
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David Cameron unveils plans to encourage saving
Tue 6th Jan 2009
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The leader of the Conservative Party claims that abolishing the income tax paid on savings by basic rate taxpayers will help turn the UK "from a spend, spend, spend society into a save, save, save society".
Mr Cameron said that if his party wins the next election, he will fund the change by restricting government spending in the future.
However Nick Clegg, the leader of the Liberal Democrats, criticised Mr Cameron's plans, saying: "If David Cameron is going to be taken seriously he has to identify what cuts he will make. How many fewer police officers will there be on the street and who will have a smaller pension?"
He added that someone saving £100 a year would only gain an extra 40 pence per year under the Conservatives' new tax policies.
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