The Liberal Democrats want to cut income tax by raising the tax-free personal allowance, according to the party's manifesto.
In a speech today (June 10), leader Ed Davey said all of the party's policies were "carefully costed" as he announced its manifesto.
He said the party has put health and care at the heart of its manifesto, saying the NHS and care in the UK were in crisis.
The 114-page manifesto includes the party's priority for tax cuts, raising the tax-free personal allowance,.
It said: "Our priority for tax cuts, when the public finances allow, will be to cut income tax by raising the tax-free personal allowance, benefitting the vast majority of families and taking more low-paid workers out of paying income tax altogether."
The Liberal Democrats also want to make changes to capital gains tax to fund investments in the NHS and social care, among other things.
The manifesto said the party would "fairly reform" capital gains tax to close loopholes which it said were exploited by the super wealthy.
Davey claimed more than £5bn could be raised from capital gains tax if the rate was 45 per cent for gains of more than £100,000 and 40 per cent for gains of between £50,000-£100,000.
The party also wants to see changes to tax on big banks and introduce a 4 per cent tax on the share buyback schemes of FTSE 100 listed companies.
On pensions, the manifesto said the party wants to see measures developed to end the gender pension gap in private pensions and ensure working-age carers can save properly for retirement.
"We must transform our politics for good, so politicians have to respond to people's dreams and desires, because that is the only way we will bring the real change our country needs," said Davey.
"It's the only way we will deliver a fair deal. A fair deal, where everyone can afford a decent home, somewhere safe and clean with a comfortable retirement when the time comes, where every child can go to a good school have real opportunities to fulfil their potential, where everyone can get the high quality health care they need, when they need it and where they need it.
"That is the fair deal that runs throughout our manifesto. That is the fair deal that Liberal Democrats are fighting for. At this election, every vote for the Liberal Democrats is a vote to make that fair deal happen."
tara.o'connor@ft.com
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