New year, new tax plans
Updated on 05 January 2009
David Cameron says a Conservative government would abolish tax on savings income for basic rate taxpayers.
The Tories also said they would raise the personal allowance for pensioners.
Mr Cameron said the proposals were a "meaty change" that would help victims of the recession and encourage more saving. The tax cuts would be paid for by restricting the growth in public spending for this year.
The Labour party claimed that reducing public spending in the middle of a recession was economic madness.
