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Ken Clarke lifts the lid on Tory tax plans

Old warhorse Ken Clarke, the shadow business secretary, has today suggested that the Tory Party would be foolish to rule out tax increases if it gains office at the next election. While this is common sense, and something which many people believe will happen, it is the first time the Conservative Party has, unofficially in this instance, commented upon potential tax rises.

Mr Clarke suggested that while income tax could rise, we might also see an increase in VAT and a reduction in public sector investment. The latter suggestion is something which the Labour Party will seize upon and attempt to use this to show the Conservatives as a party for the rich. However, again there are many millions of people in the UK who realise that a reduction in investment in public services is a definitive part of any strategy to reduce the budget deficit and the UK debt as a whole.

It will be interesting to see if the Labour Party attempt to make political gain from this comment because it does open up a very hot and very topical debate. Taxation is an issue which will dominate the forthcoming UK election and there will be many choices to be made in the weeks and months ahead.

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