Sandy 4 St Albans

This morning, at their first press conference of the 2010 General Election campaign, Nick Clegg and Vince Cable announced the fair tax policy at the heart of our General Election manifesto (which will be launched soon).

Under Labour, the tax system is complex, unwieldy and, most of all, unfair. This has to change. The Liberal Democrats will rebalance our tax system to make it fair once and for all.

Under the Liberal Democrats the income tax threshold will be raised to £10,000, meaning most taxpayers will see their income tax bills cut by £700.

Nick and Vince set out where every last pound of the money will come from: clamping down on tax avoidance, closing tax loopholes for the wealthy, a ‘mansion tax’ on homes worth more than £2 million and making sure that airlines pay for the pollution they cause. You can learn more in the video recorded by Nick.

It’s the biggest tax switch in generations. A radical overhaul to make sure those at the top pay their fair share in order to put money back in the pockets of people who need it.