article_snippet: Yesterday, The Prime Minister torpedoed Labour's central economic attack by categorically ruling out a rise in VAT.
article_snippet: Labour MPs sat stony-faced as Tory MPs roared with laughter when David Cameron ruled out a VAT increase .
article_snippet: David Cameron then challenged Mr Miliband to rule out the prospect of Labour raising national insurance contributions, which It did in 2002.
article_snippet: We will make it clear in the manifesto Labour will not be raising national insurance.
article_snippet: Later Shadow Chancellor Ed Balls ruled out any increase in either the basic or higher rate of income tax. '
article_snippet: No rise in VAT under Labour, no rise in the basic and higher rates of income tax under Labour, no rise in national insurance under Labour,' Shadow Chancellor Ed Balls said. '
article_snippet: Conservative sources suggested the party had set a trap for Mr Miliband because Chancellor George Osborne had repeatedly refused to rule out a rise in VAT under questioning from Labour MPs. '
article_snippet: Labour has been panicked today into ruling out tax rises left, right and centre,' said a senior official. '
article_snippet: Conservative sources said the party had set a trap for Mr Miliband because Chancellor George Osborne two days ago (pictured) declined to give a 'cast-iron guarantee' to match Labour's pledge not to increase VAT .
article_snippet: The Tories have claimed The Tories do not intend to raise any taxes, instead saving £13billion from the budgets of Government departments, £12billion from cutting the benefits bill and £5billion from measures to squeeze tax avoidance.
article_snippet: Mr Miliband insisted 'nobody would believe' Mr Cameron's pledge and Labour officials said the party would press ahead with the party billboard campaign.
article_snippet: Labour officials pointed out that Mr Cameron's had said before the last election that Mr Cameron's had 'no plans' to raise VAT.
article_snippet: Labour said the Tories had made a similar pledge before the next election, only to break a similar pledge a year later.
highlights_snippet: The Prime Minister torpeoded a Labour attack by ruling out VAT increase .
  