Cuts to personal and corporate taxes have been promised by Tory shadow chancellor George Osborne, who yesterday pledged to add the cuts to earlier guarantees of changes to IHT and non-doms.

The Times reports that Tories will place the cuts at the centre of any Autumn election campaign.

The party says personal tax cuts will be funded by revenue raised from green and environmental taxes. The business tax package will see cuts funded by cost savings from simplifying the system.

The proposed cuts come as the chances of an early election and pre-Budget report look ever more likely.

Further reading:

Tories look to hit non-doms on tax