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Liberal Democrats intend to raise taxes

06 Oct 2014

Nick Clegg, leader of the Liberal Democrat party, told the BBC that taxes would ‘of course’ increase for the wealthy should his party win the general election.

Mr Clegg said: ‘No one anywhere in the reasonable world thinks you can fill the black hole in public finances either through spending reductions – though George Osborne and the Conservatives now do – or by taxes on their own. The received wisdom is that you should have roughly about 20% of tax increases versus 80% of spending reductions’.

He continued: ‘That is the mix broadly speaking we have aspired to in this government. What happened last week, which is very significant and will have a dramatic effect on the debate in British politics, is the Conservatives said almost with undisguised relish that they were not going to ask the wealthiest in society to pay a single penny towards completing the deficit reduction effort’.

The party has outlined the measures they will demand should the opportunity arise for another coalition government, despite the low predictions of such an outcome in recent polls.