Politics

Theresa May promises not to raise VAT if Tories win election

Prime minister Theresa May appearing on The Andrew Marr Show on Sunday PICTURE: Jeff Overs/BBC/PA
Prime minister Theresa May appearing on The Andrew Marr Show on Sunday PICTURE: Jeff Overs/BBC/PA Prime minister Theresa May appearing on The Andrew Marr Show on Sunday PICTURE: Jeff Overs/BBC/PA

THERESA May has promised not to raise VAT if the Conservatives win the general election, but signalled she will scrap a flagship "tax lock" pledge which also rules out increases to income tax and national insurance.

The prime minister told ITV's Peston on Sunday "we won't be increasing VAT".

But in a separate interview she said she does not want to make specific proposals unless she is sure she can deliver on them, after being asked whether she would stick to the Tories' 2015 tax lock promise.

The PM told Peston: "We have no plans to raise the level of tax.

"In relation to specific taxes, we won't be increasing VAT."

On BBC One's Andrew Marr Show, she said she intends to cut taxes "on working families" if the Tories win on June 8.

She said: "We have absolutely no plans to increase the level of tax but I'm also very clear that we don't want to make specific proposals on taxes unless I'm absolutely sure that I can deliver on those.

"But it would be my intention as a Conservative government and as a Conservative prime minister to reduce the taxes on working families.

"And if you've got strong and stable leadership that's absolutely what you can do."

Mrs May also indicated she would reform the pensions triple lock, another flagship 2015 pledge, promising state pensions would continue to rise with the exact way that is calculated revealed in the Tories' manifesto.

The triple lock ensures the state pension increases in line with wages, inflation or by 2.5 per cent – whichever is highest.

But there have been mounting calls to scrap it, amid concerns over cost pressures.

"Under a Conservative government the state pension will still go up every year of the next parliament," she said.

"Exactly how we calculate that increase will be for the manifesto, and as I have just said you will have to wait for the manifesto to see what's in it."