Andrew Griffith, the economic secretary to the Treasury, insisted that the Tories believe in "reducing the tax burden" in the wake of new economic data.
A report by the Institute for Fiscal Studies (IFS) estimates that - by the time of the next general election - the tax burden will have risen to around 37% of national income.
Asked about this, Mr Griffith said: "As a Conservative, I think the economy runs best when it has stability, which is our focus right now. Bringing down inflation - which is a tax rise by another name".
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