article_snippet: Labour had planned to make the possibility of a Tory VAT rise a key part of the election campaign.
article_snippet: As night follows day, if people vote Tory VAT will go up.
article_snippet: people vote Tory VAT always does and people vote Tory VAT will again.'
article_snippet: So where is the £15billion tax bombshell going to fall?
article_snippet: However, The Tories have to find £7billion to fund two tax pledges by the end of the next parliament
article_snippet: – an increase in the personal allowance for income tax to £12,500 and the threshold for the 40p rate rising to £50,000.
article_snippet: The announcements from the Conservatives and Labour severely restrict the room for manoeuvre of both on taxation after the next election because VAT and national insurance raise huge amounts for the Treasury.
article_snippet: Raising significant sums elsewhere might require new taxes on businesses.
article_snippet: Mr Cameron's raised VAT from 17.5 to 20 per cent in Mr Cameron's emergency budget in June 2010.