Tories hold off from tax cut pledges

Britain's Shadow Chancellor Oliver Letwin today announced plans to “set Britain on the path to a lower tax economy” - but refused to give specific pledges on tax cuts.

In his keynote Conservative conference speech, Mr Letwin said: “I will deliver a budget which will implement the James reforms, begin the thinning down of those fat bureaucracies and set Britain on the path to a lower tax economy.”