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Has David Cameron given too much away?

As David Cameron collects the keys to number 10 Downing St. there is already concern within some groups of the Conservative party as to whether he has given too much away to finalise a deal with the Liberal Democrats. It would appear that potential changes to the Financial Services Authority (FSA) may well be put on hold and he has indicated he will implement the Liberal Democrat income tax exemption policy which will see no income tax paid on the first £10,000 earned in any one year.

It is also believed that David Cameron has effectively "kicked into the long grass" his pledge to increase the inheritance tax threshold to £1m. However, the parties seem to be in total agreement with regards to the need to reduce the UK budget deficit as soon as possible and we will see a number of public-sector investment cuts announced in the short to medium term.

We are only now beginning to see the shape of the next cabinet with the Liberal Democrats promised at least five seats and Nick Clegg elevated to the position of deputy prime minister. When you consider that the Liberal Democrats won less than 60 seats at the election this is a great result for the party!

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