Tories vow not to increase income tax for UK's richest

The Conservatives have ruled out raising income taxes on the highest earners – despite having refused to make the same pledge for taxpayers on lower incomes.

Theresa May has repeatedly refused to rule out raising tax on ordinary workers during the election campaign, with income tax and national insurance hikes potentially on the table.

However senior Conservative Cabinet minister Michael Fallon has now told the Daily Telegraph newspaper that the richest would be exempt from any hikes under Tory plans.

Asked if high earners could vote Conservative without risking an increase in their income tax, Sir Michael told the newspaper: “Yes. You’ve seen our record. We’re not in the business of punishing people for getting on, on the contrary we want people to keep more of their earnings.

“The only way they can be sure their taxes won’t rise is to vote Conservative.”

Labour seized on the comments and said the Tories’ policy showed they were the “party for the few, not the many”.

The election was called just weeks after Ms May was forced to U-turn on an attempt to hike national insurance for self-employed workers.

The PM has refused to spell out the specific of any tax rises but has also refused to rule them out.

Labour’s policy is the mirror image of the Conservatives; the party has ruled out raising personal taxation on 95 per cent of the country but said it will hike rates for the 5 per cent highest earners.

Jeremy Corbyn’s party is also pledging to fund spending pledges by reversing Tory cuts in capital gains tax and corporation tax.

Responding to Sir Michael’s comments, shadow Chancellor John McDonnell said: “The mask has finally slipped. The only guarantee the Tories are prepared to give at this election is to big business and high earners.

“While low- and middle-income earners have seen no guarantee from Theresa May that their taxes won’t be raised.

“And pensioners are left to worry about whether they will be able to heat their homes or even keep their homes, with no clarity on cuts to winter fuel payments or the dementia tax.

Michael Fallon made the pledge in an interview with the Daily Telegraph ( Getty )

“This confirms that the Tories truly are the party for the few not the many, as only Labour can guarantee no rises in NICs or VAT while 95 per cent of income taxpayers will be protected from tax hikes in the next parliament.”

When asked about raising taxes, the Prime Minister says the Tories believe in lower taxes – but has stopped short of ruling out hikes.

Asked about the pledge on Saturday morning whilst campaigning in West Yorkshire, Ms May was ambiguous. The PM said she wanted to reduce taxes but would not outline a specific policy.

58 show all UK General Election 2017

1/58 24 April 2017 A tactical voting website in support of Labour. The use of digital marketing and social media platforms such as Facebook and Twitter are likely to play and important role in the snap general election to be held on June 8 Getty Images

2/58 24 April 2017 Labour leader Jeremy Corbyn addresses the STUC conference in Aviemore. PA

3/58 24 April 2017 Liberal Democrat leader Tim Farron addresses supporters at a campaign event in Vauxhall, London PA wire

4/58 24 April 2017 The Liberal Democrat party website is displayed on a laptop computer. The use of digital marketing and social media platforms such as Facebook and Twitter are likely to play and important role in the snap general election to be held on June 8 Getty Images

5/58 24 April 2017 Party workers clear a hall following Liberal Democrat leader Tim Farron's address to supporters at a campaign event in Vauxhall, London PA wire

6/58 24 April 2017 The Conservative party website is displayed on a laptop computer in Bristol, England. The use of digital marketing and social media platforms such as Facebook and Twitter are likely to play and important role in the snap general election to be held on June 8 Getty Images

7/58 25 April 2017 Shadow Brexit secretary Sir Keir Starmer makes a speech outlining Labour's approach to Brexit PA wire

8/58 25 April 2017 Prime Minister Theresa May speaks to a worker during a visit to a steel works in Newport, Wales PA wire

9/58 29 April 2017 UK Independence Party leader Paul Nuttall knocks on the door of a resident during a visit to Hartlepool Getty Images

10/58 29 April 2017 UK Independence Party leader Paul Nuttall leaves a pub after meeting with television media in Hartlepool Getty

11/58 29 April 2017 A UK Independence Party supporter (L) scuffles with a pro-europe supporter ahead of a visit by UKIP leader Paul Nuttall to Hartlepool Getty Images

12/58 29 April 2017 Theresa May speaks at an election campaign rally in Banchory, Scotland Getty

13/58 29 April 2017 British Prime Minister Theresa May speaks at an election campaign rally on April 29, 2017 in Banchory, Scotland Getty Images

14/58 29 April 2017 Jeremy Corbyn delivers a campaign speech on leadership in London Getty Images

15/58 29 April 2017 Britain's opposition Labour Party leader Jeremy Corbyn speaks at an election campaign rally in East London Reuters

16/58 30 April 2017 Jeremy Corbyn speaks to supporters as he arrives for a conference for head teachers in Telford Getty

17/58 2 May 2017 Green MEP Molly Scott Cato speaks during the launch of the Green Party Brexit policy watched by Co-Leader of the Green Party, Caroline Lucas and Green London Assembly member Siân Rebecca Berry at the Space Studio in London Stefan Rousseau/PA Wire

18/58 2 May 2017 Co-Leader of the Green Party, Caroline Lucas, speaks during the launch of the Green Party Brexit policy at the Space Studio in London Stefan Rousseau/PA

19/58 2 May 2017 Green Party co-leader Caroline Lucas, Siân Rebecca Berry, London Assembly Green Party member and the Bristol West candidate, Molly Scott Cato make an announcement of the party's new Brexit policy in London EPA

20/58 2 May 2017 Scottish Conservative party leader Ruth Davidson gave a speech at the G&V Royal Mile Hotel in Edinburgh ahead of the local government election PA

21/58 2 May 2017 Ukip leader Paul Nuttall during a walkabout in Dudley town centre in the West Midlands, with Ukip West Midlands MEP Bill Etheridge and Pete Durnell, West Midlands Metro Mayor candidate, while on the election campaign trail Richard Vernalls/PA Wire

22/58 2 May 2017 Ukip leader Paul Nuttall eats grapes during a walkabout in Dudley town centre in the West Midlands, with Ukip West Midlands MEP Bill Etheridge and Pete Durnell, West Midlands Metro Mayor candidate PA Wire

23/58 2 May 2017 Jeremy Corbyn, the leader of Britain's opposition Labour Party, campaigns in Southampton Reuters

24/58 2 May 2017 Jeremy Corbyn, the leader of Britain's opposition Labour Party, campaigns in Southampton Reuters

25/58 2 May 2017 A view of the Liberal Democrat battle bus during a general election campaign visit to Lewes in East Sussex Gareth Fuller/PA Wire

26/58 2 May 2017 Britain's Prime Minister Theresa May makes a campaign stop at a company in St Yves, Cornwall, England Getty Images

27/58 2 May 2017 Britain's Prime Minister Theresa May makes a campaign stop at a company in St Yves, Cornwall, England. The Prime Minister is campaigning in South-West England, a former Liberal Democrat stronghold, as she urges West Country voters to stick with her party ahead of the polls on June 8 Getty Images

28/58 2 May 2017 Britain's Prime Minister Theresa May enjoys some chips during a campaign stop in Mevagissey, Cornwall Reuters

29/58 2 May 2017 Prime Minister Theresa May having some chips while on a walkabout during a election campaign stop in Mevagissey, Cornwall Dylan Martinez/PA Wire

30/58 8 May 2017 Britain's opposition Labour party Leader Jeremy Corbyn reacts as he meets with nursing students at the University of Worcester's Sheila Scott building in Worcester Getty Images

31/58 8 May 2017 Scotland's First Minister, Nicola Sturgeon gestures during her tour of the Inveralmond Brewery as she campaigns for the upcoming general election, in Perth Getty Images

32/58 8 May 2017 Scotland's First Minister, Nicola Sturgeon gestures during her tour of the Inveralmond Brewery as she campaigns for the upcoming general election, in Perth Getty Images

33/58 8 May 2017 Britain's Prime Minister Theresa May arrives at the Dhamecha Lohana Centre in north west London AP

34/58 8 May 2017 Ukip leader Paul Nuttall at a policy launch event in Gt George Street, London PA wire

35/58 8 May 2017 Jeremy Corbyn, the leader of Britain's opposition Labour Party campaigns outside Leamington Spa Town Hall Reuters

36/58 9 May 2017 Britain's Labour Party Leader Jeremy Corbyn greets a supporter campaigning in Manchester, north west England EPA

37/58 9 May 2017 Liberal Democrat leader Tim Farron and the party's local candidate Tessa Munt on board a hovercraft during a visit to the Burnham Area Rescue Boat (BARB), a charity that operates two life-saving rescue hovercrafts and an inshore rescue boat, at Burnham-on-Sea in Somerset Yui Mok/PA Wire

38/58 9 May 2017 Scottish Conservative leader Ruth Davidson visits the Shortbread House of Edinburgh's factory on the election campaign trail John Linton/PA Wire

39/58 10 May 2017 SNP Leader Nicola Sturgeon has selfies taken during a walk about in Kirkintilloch town centre Andrew Milligan/PA Wire

40/58 10 May 2017 SNP Leader Nicola Sturgeon with eleven month old Isla Corbett during a walk about in Kirkintilloch town centre Andrew Milligan/PA Wire

41/58 10 May 2017 Leader of the Liberal Democrats Tim Farron takes part in a gardening lesson as he visits Lewannick Primary School near Launceston in Cornwall, England Getty Images

42/58 16 May 2017 British Prime Minister Theresa May meets the Nishkam Trust leadership team and pupils of Nishkam Primary School in Birmingham, United Kingdom Dan Kitwood/Getty Images

43/58 16 May 2017 Jeremy Corbyn pledged to 'resign' the two-child limit on tax credits Danny Lawson/PA Wire

44/58 16 May 2017 Supporters ahead of Jeremy Corbyn's appearance at the launch in Bradford of the Labour Party manifesto for the General Election Owen Humphreys/PA Wire

45/58 16 May 2017 Liberal Democrats leader Tim Farron meets engineering students during a visit to Bath College in Somerset Gareth Fuller/PA Wire

46/58 16 May 2017 Liberal Democrats leader Tim Farron at work onboard the party battlebus following a general election campaign visit to Bath in Somerset Gareth Fuller/PA

47/58 17 May 2017 British Prime Minister Theresa May and Chancellor of the Exchequer Philip Hammond attend a Conservative Party Press Conference at One Canada Square Jack Taylor/Getty Images

48/58 17 May 2017 Britain's Chancellor of the Exchequer Philip Hammond (L) and Britain's Prime Minister Theresa May attend an election campaign event in Canary Wharf Getty

49/58 19 May 2017 First Minister and SNP leader Nicola Sturgeon has a shot on a bike during a visit to Moffat on the General Election campaign trail Andrew Milligan/PA Wire

50/58 19 May 2017 First Minister and SNP leader Nicola Sturgeon sits in the driving seat of a Midge car during a visit to Moffat on the General Election campaign trail Andrew Milligan/PA Wire

51/58 19 May 2017 Labour leader Jeremy Corbyn reacts as he speaks in Peterborough Getty Images

52/58 19 May 2017 Britain's Prime Minister Theresa May speaks at the launch of the Scottish manifesto by Scottish Conservative leader Ruth Davidson in Edinburgh Getty Images

53/58 22 May 2017 Liberal Democrat leader Tim Farron poses for a selfie taken by carer April Preston during a General Election campaign visit to the Barlow Medical Centre, in Didsbury, Manchester Yui Mok/PA

54/58 22 May 2017 Liberal Democrat leader Tim Farron and the party's local candidate John Leech meet carer April Preston, who is in receipt of the Carer's Allowance, during a General Election campaign visit to the Barlow Medical Centre, in Didsbury, Manchester Yui Mok/PA Wire

55/58 22 May 2017 Conservative party leader Theresa May during the Welsh Conservative manifesto launch at Gresford Memorial Hall, Gresford, Wrexham Stefan Rousseau/PA Wire

56/58 22 May 2017 Britain's Prime Minister Theresa May speaks at an election campaign event in Wrexham, Wales Reuters

57/58 22 May 2017 Britain's main opposition Labour Party leader Jeremy Corbyn, and Labour's former deputy Prime Minister, John Prescott, exit the party's general election campaign 'battle' bus as they arrive at an event in Kingston upon Hull, northern England Getty Images

58/58 22 May 2017 Britain's main opposition Labour Party leader Jeremy Corbyn walks with supporters between venues, before speaking again at another general election campaign event in Kingston upon Hull, northern England Getty Images

“Our position on tax hasn’t changed. We have set it out in the manifesto,” she said.

“What people will know when they go to vote on Thursday is that it is the Conservative Party that always has been, is and always will be, a low-tax party.

“It is our firm intention to reduce taxes for ordinary working families.”

She has specifically failed to match the “tax lock” pledge by David Cameron, issued in 2015, not to raise VAT, income tax, or national insurance. She has since said VAT will not go up.