Commenting on the Conservatives tax plans to freeze National Insurance, VAT and Income Tax, Liberal Democrat Chief Secretary to the Treasury Danny Alexander said:
"The Lib Dems committed weeks ago to not increasing the headline taxes that most people pay – VAT, NI and Income Tax. Now the Tories are playing ‘catch up’.
"But there’s one big difference. To meet this commitment and finish the job of balancing the nation’s books, we will raise taxes a little on the best off in society and from the banks. That’s the fair way.
"On the other hand, the Tories have ruled out any tax rises and are offering a rash of unfunded tax cuts.
"Their plan to balance the books is all on the backs of the working age poor.
"Their new commitment on headline taxes means they will need to take the axe out to our vital public services and inflict truly damaging cuts.
"With the Tories it’s a case of giving a little with one hand, but swinging the axe with the other."