David Cameron rules out 'mansion tax' as Conservative Party Conference begins

Prime Minister David Cameron and his wife Samantha arrive at the Conservative Party Credit: David Davies/PA Wire

Speaking ahead of the Conservative Party Conference David Cameron has ruled out any 'mansion tax' to increase the Treasury's coffers.

Chancellor George Osborne taxes on the rich were not the way to deal with the deficit or the debt. He said:

Speaking to the Andrew Marr Show the Prime Minister said;

George Osborne who told Sky News:

But the strong lines could still throw up problems for the coalition as Nick Clegg had already told his party conference the Liberal Democrats will not sanction further welfare cuts without further tax increases for the rich.