Web extra: Tory tax plans

The Conservatives say savers are "innocent victims" of the downturn

As savings rates plunge, the Conservative Party has outlined plans to offer �4bn in tax cuts for savers and pensioners.

If in power, the party would scrap taxes paid by basic rate taxpayers on savings interest and raise the level of non-taxable income for pensioners by �2,000 a year.

The measures would be funded by lower public spending.

The shadow chancellor, George Osborne, explains their proposals in detail.

Web extra: Extended interview with George Osborne

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