Below is the text of the Conservative Party Press Release on Mr Major’s comments on taxation. It was issued on Monday 30th March 1992, reference 665/92.
LOWER TAXES AND RECOVERY
Let me start by telling you something of our plans for this week. We are going to highlight some issues crucial to this election: the economic recovery; defence; international affairs; education; housing and mortgages; law and order; jobs and prices. We'll be setting out how we intend to carry our reforms forward -
I intend to concentrate on the sort of society I want to build at home, and how we intend to build up our influence abroad.
This morning we are going to focus on the two faces of tax. High Labour taxes -
Low taxes are essential to a fair society and a successful economy.
Low taxes give people incentive. They leave people more to spend for themselves and their families. So they work harder. They get more satisfaction from what they do.
And what they do is to earn more for this country. More for themselves -
Low taxes encourage Britain's talent to stay here and work here -
Never has low tax been so vital to the health of the economy. Never would it be so wrong to increase tax.
Over the past 13 years, we've cut the top rate of tax -
We've already started bringing it down to 20p. And we've done it in a new way -
That's the way we mean to go on. Taking more and more taxpayers out of 25p tax by widening the band. This way, we can make progress -
We'll use some of the fruits of growth to finance extra public spending -
That is a balanced approach. That is my approach -