Theresa May to bring to an end the Conservatives tax lock, but promised not to raise VAT

During to the recent tax uproar which was sparked by Chancellor Philip Hammond in his first budget presentation, the Prime Minister is now making serious efforts to ditch her party’s vow to the British people not to increase tax.

Although she stated clearly that her party does not have immediate plan to increase taxes, she said that the party under her leadership will not make any particular proposals to that effect till she was very sure of delivering on such promises.

Despite her stance on the issue, questions are still being asked about what she will do to tax national insurance, after she specifically made mention that she will not increase VAT.

The PM went further to indicate her readiness to scrap the triple lock protecting pensions that was also promised by David Cameron.

According to Chancellor Philip Hammond previously made commitments "constrain" the Government from making some new policies in that regard.

Speaking with ITV's Peston on Sunday the PM said: "We have no plans to raise the level of tax.

"In relation to specific taxes, we won't be increasing VAT."

Speaking on BBC One's Andrew Marr Show, Mrs May said she intended to cut taxes "on working families" if the Tories were returned to power on 8 June.

She said: "We have absolutely no plans to increase the level of tax but I'm also very clear that we don't want to make specific proposals on taxes unless I'm absolutely sure that I can deliver on those.

"But it would be my intention as a Conservative government and as a Conservative prime minister to reduce the taxes on working families.

"And if you've got strong and stable leadership that's absolutely what you can do."

Mrs May also hinted she would scrap the pensions triple lock, but promised the state payouts would continue to rise.

Presently, the triple lock allows state pensions to rise in line with wages, inflation or by 2.5%, whichever is highest.

The PM said: "Under a Conservative government the state pension will still go up every year of the next parliament.

"Exactly how we calculate that increase will be for the manifesto, and as I have just said you will have to wait for the manifesto to see what's in it."

Mrs May's comments on taxes have been seized on by Labour.

Shadow foreign secretary Emily Thornberry told Sky News' Sophy Ridge on Sunday programme: "She's saying she has no plans to raise income tax on middle incomes and lower incomes, now that to us is code.

"That is the code the Tories used before the first time they came in when they then went ahead and increased VAT.

"So she has ruled out increasing VAT, but she is not ruling out raising taxes for lower and middle income people."

However, Ms Thornberry refused to be drawn on what Labour's policy on taxes would be and said people would have to wait until the publication of the party's manifesto.