The Labour Party will do its best to keep income tax rates steady if re-elected for the third term, according to the UK Prime Minister Tony Blair.

``We will not raise the basic or top rate of income tax in the next parliament. We renew our pledge not to extend VAT to food, children’s clothes, books, newspapers and public transport fares,’’ he said in a manifesto.
The Labour Party election manifesto stresses the importance of keeping income tax rates steady comes after the opponent Conservatives pledge to tax cuts worth 4 billion pounds ($7.5 billion).

The Labours also promise to keep interest rates and inflation at the lowest. ``At the heart of it is a strong economy. Hard working families need a stable economy. We will keep interest rates and inflation as low as possible. We will never return to the stop-go growth of the past,’’ Blair said.

Some officials doubt whether Mr. Blair will manage to keep the promise as many can recall his promise to hold taxes, followed by an increase as many as 66 times, according to Oliver Letwin, the Conservative spokesman on finance.

Still, Labours’ chances to win the elections are higher than those of Conservatives with the NOP poll results showing 38% of respondents favouring the Labour Party, 32% Conservatives and only 21% ready to vote for Liberal Democrats.