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Clegg: Proud coalitions can work

Deputy PM Nick Clegg has said he is "proud" that both the Liberal Democrats and the Conservatives have demonstrated that Coalition governments can work and refused to rule out entering another powersharing government at the next election.

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Danny Alexander: £50,000 tax band is 'nonsense'

Danny Alexander told BBC Radio 5 Live an email suggesting a £50,000 tax band was "total nonsense and I don't know quite where that came from or how it happened".

Asked whether the mansion tax plan would form a "red line" in any negotiations for a coalition after 2015 Mr Alexander said:

Fairer taxes and asking the wealthy to continue to make a contribution to dealing with the deficit, that is something that Lib Dems believe in very strongly.

I'm not going to get into setting out red lines for negotiations at this stage, what I'm saying is that one of the big differences between the Liberal Democrats and the Conservatives is we recognise that as we get into the final stages of deficit reduction in the next parliament, that we need to continue through these sorts of tax increases to ask the wealthy to make a contribution.

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