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Cameron makes tax pledge in conference speech

David Cameron pledged to raise the threshold for the 40p income tax rate from £41,900 to £50,000 over the course of the next parliament.

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Ed Balls: Tory 'Strivers' tax' will hit 3 million workers

Ed Balls claims the tax measures unveiled by David Cameron at the Tory conference amount to a 'Strivers' tax' that will hit 3 million working people.

Ed Balls setting out Labour's economic plans at their conference. Credit: Peter Byrne/PA Wire

Writing on his blog, the Shadow Chancellor singled out cuts to tax credits, saying: "It’s a Strivers' Tax which will cost a one earner family with two children on £25,000 a year almost £500."

He implied the policy would cost the Tories at next year's election, as 260,000 families hit by tax credit cuts live in the 50 most vulnerable Conservative seats.

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