Family finances have taken centre stage in the General Election battle, with David Cameron pledging not to increase the three main taxes paid by households.
Mr Cameron is promising legislation to guarantee a "tax lock", banning rises in the rates of income tax, VAT or national insurance until May 2020.
Labour and the Lib Dems dismissed the pledge as a "gimmick".
William Hague has voiced his support for David Cameron's proposed tax lock if the Conservatives win the general election, saying such legislation would only be possible because of the now resilient economy.
"The difference now of course is that five years ago we were dealing with a huge deficit of excessive, almost Greek levels," the former foreign secretary told BBC Radio 4's Today programme.
Asked why there were no similar guarantees on other pledges, such as to preserve child benefit, Mr Hague said that the Tories had been clear about their plans
"The fairest way to reduce welfare bills is to make sure benefits are not rising faster than the wages that are paying for them.
"...We have said a great deal about what we will do on benefits."
Millions of families' budgets are at risk if the Conservatives win the general election, Labour leader Ed Miliband has warned.
David Cameron is to pledge no increases in income tax, VAT or national insurance before May 2020 under a Conservative government.