UK's Cameron vows to ban tax rises if re-elected

British PM and Conservative Party leader David Cameron has vowed no major tax rises for five years if his party wins next week's electionBritish Prime Minister David Cameron on Wednesday promised to ban major tax increases for the next five years if his party manages to win a knife-edge election next week. Cameron, who is fighting for his political survival in the May 7 poll, is promising to pass a law introducing a “tax lock” to prevent increases in income tax, value-added tax or national insurance contributions to state benefits. His centre-right Conservatives, in power since 2010 as part of a coalition government and at virtual level pegging with the opposition Labour party in opinion polls, has put the economy at the forefront of its campaign. Labour’s finance spokesman Ed Balls criticised the move at a time when, he said, the British economy was “not strong and robust”.

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