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07 May 2010
The Conservatives will place a reform of the tax system at the centre of its offer to work with the Lib Dems as part of providing a stable government.
Presenting his statement to the public with a hung parliament, Cameron said that the Tories had "common ground" with the Lib Dems in many areas, including lowering the tax burden for those who can least afford to pay tax.
Cameron spoke of a "big, open, comprehensive, offer" to the Lib Dems. He stopped short of offering a coalition, but suggested more than just a 'confidence and supply' arrangement, where a minority government governs through agreements over certain policies.
The Lib Dems outlined increasing the basic personal allowance to £10,000, and introducing a 'mansion tax' of 1% on properties worth more than £2m, as key planks for their tax policy, as well as leaving just a basic rate of pensions tax relief.
Further reading:
Blog: Tax and the election horse trading
Accountants emerge as winners on election night
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