PM Promises 'Good Life' For 'Working People'

David Cameron has claimed the Conservatives are the "party of the working people" as he made pledges on homeownership, £5,000 of free childcare and an income tax-free minimum wage.

Launching the Tory manifesto, Mr Cameron repeatedly made offers to voters who worked hard and wanted to get on the "good life".

The manifesto set out measures for families from cradle to grave - identifying measures to help people over six stages of their lives.

Mr Cameron opened his speech by saying: "At the heart of this manifesto is a simple proposition. We are the party of working people, offering you security at every stage of your life."

He promised 30 hours of childcare for three and four-year-olds - five hours more than promised in Labour's manifesto yesterday - to help working parents.

Video: Gove Defends Right To Buy Plan

He said if the party is returned to power, it will give 1.3 million families the chance to buy their housing association home at least a 20% discount.

Speaking at a university technical college in Swindon, Mr Cameron laid out his vision for a "property-owning democracy" echoing the phrases used in Margaret Thatcher's 1983 manifesto.

And he said the Conservatives would introduce a tax-free minimum wage, linking the minimum wage to the income tax personal allowance so the lowest paid would never have to pay tax.

He urged voters not to "waste the last five years" and let "Labour drag us back" to the past, and asked to be allowed to "finish the job".

Video: Cameron: Manifesto For A Good Life

Mr Cameron promised: "This buccaneering, world-beating, can-do country - we can do it all over again."

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Among other measures included in the manifesto, which has the phrase "strong leadership, a clear economic plan, a better more secure future" on the cover, are:

:: Raising the personal allowance for tax to £12,500

:: Increasing the starting salary for the 40p rate to £50,000

:: No increase in income tax, VAT, National Insurance

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:: Raising the inheritance tax threshold for family homes to £1m

:: Seven-day access to GP service

:: An annual £8bn boost for NHS funding

:: Repeal the Hunting Act

Video: Right To Buy Scheme Extended

:: Increase state pension by at least 2.5% with a triple lock

:: 200,000 starter homes built

:: Committed to four-boat Trident nuclear deterrent

Mr Cameron's repeated pledges on a "good life" available to people in the UK prompted a question on whether he saw himself as the impoverished Tom and Barbara characters from the BBC sitcom, played by Felicity Kendal and Richard Briers, or the rich Margot and Jerry characters played by Penelope Keith and Paul Eddington.

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To fund Right to Buy, the Conservatives would force councils to sell their most expensive properties when vacant - estimated to raise £4.5bn a year - and replace the properties sold.

However, the Housing Federation claims the cost to the taxpayer would be £5.8bn and 40 years of failure on house-building means the UK still does not have the homes needed.

Since Baroness Thatcher introduced Right to Buy in 1980, 1.88 million council properties have been sold - only 345,000 new social housing properties have been built.

As well as extending Right to Buy at a discount to housing association tenants, the party has promised a £1bn fund for building 400,000 new properties on brownfield sites.

Video: Tory Manifesto In 60 Seconds

Mr Cameron's claim that the Conservatives are the party for workers comes after Labour said it wanted to be seen as the fiscally responsible option for government.

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Conservative activists gathered for the manifesto launch were shown a video called The Note.

The video refers to the missive left for the coalition by the outgoing Labour treasury minister Liam Byrne after the 2010 election. It said: "There is no money."

But Labour has claimed the Conservatives have failed to explain properly how their measures will be funded.

The Tories say some £1.4bn a year of the funding will come from reducing the tax relief on pensions for those earning more than £150,000. Mr Cameron said their track record showed they could deliver on their pledges.

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Labour leader Ed Miliband said the Conservatives were "trying to fund Right to Buy on a bounced cheque".

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Lib Dem leader Nick Clegg said the Right to Buy policy was unaffordable and did not help millions of people trying to get on to the property ladder.

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Google Warns Staff On EU Competition Charges

Google has told its staff that EU competition regulators are set to step up their investigation into the company following a five-year inquiry, with charges reportedly imminent.

Kent Walker, Google's general counsel, wrote in the memo that a "statement of objections" to Google's business practices in Europe would be released on Wednesday by the EU's competition commissioner, Margrethe Vestager.

The European Commission has been examining whether Google, which holds about 90% of the search market in Europe, has been illegally rigging its search results to favour its own services.

Tech rivals such as Microsoft, who urged the EU to bring the case, want more competition in areas like online maps, search and shopping.

In his memo, Mr Walker suggested that the inquiry may be expanded to include whether Google was using its Android software for mobile devices to gain an unfair advantage over other digital services.

"Expect some of the criticism to be tough," he warned.

If the EU issues a "statement of objections" against Google, it could lead to formal charges and an eventual fine of up to 10% of its worldwide turnover, which reached $66bn (£44.7bn) in 2014.

The Financial Times reported that Google would be told on Wednesday it was to be formally accused of abusing its market dominance.

The company has repeatedly denied any wrongdoing.

However, the filing of charges could increase pressure on Google to settle, to avoid a potentially damaging case and massive fine resulting from the allegations.

The record penalty imposed on a company for competition offences is £800m - levied on Intel in 2009 for abusing its dominance of the computer chip market.

Digital Commissioner Guenther Oettinger said last weekend that the EU was expected to publish in "the coming days" the findings of its investigation.

He told a meeting in Hanover: "We need to bring or force Internet platforms, search engines, to follow our rules in Europe."

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Oil Find Near Gatwick 'Clarified' By Owner

The company which reported a massive upgrade to an oil find near Gatwick Airport has conceded it was not in a position to properly size it up.

Reaction to last week's announcement that up to 100 billion barrels, a potentially "world class" discovery, had been identified sparked excitement but there was scepticism also.

That caution extended to other partners in the project, as previous estimates were as high as 40 billion and as low as 4.4 billion.

Shares in UK Oil & Gas Investments (UKOG) rose more than 300% at one stage following its original statement last Thursday.

UKOG did not repeat the words "world class" in today's update.

Video: 'Effectively A Sponge Full Of Oil'

It said that the oil volumes in the Horse Hill-1 well in the Weald Basin, estimated by US exploration firm Nutech, "should not be considered as either contingent or prospective resources or reserves."

The company, which holds a 20% stake in the Horse Hill development, also admitted further work was needed to "prove its commerciality."

Its chairman David Lenigas had claimed last week the discovery would create "many thousands of jobs" but did say it would take a long time to begin production.

Another partner in the Weald Basin project, Solo Oil, exercised caution at the time of UKOG's upgrade.

Video: Major Oil Find Near Gatwick

Solo chief executive Neil Ritson told Sky News: "We're not actually putting out that number of a hundred billion barrels. I know that a leading academic - Professor Fraser at Imperial - is talking about 40 billion.

"Certainly those numbers are possible, but that's not where we are at the moment. It's early days."

UKOG had said last week that Nutech had estimated that recovery of the oil would be limited at between 3% and 15% of the total.

It also confirmed there would be no use of the controversial extraction method known as fracking to get access to the oil.

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Green Manifesto To Pledge 'Peaceful Revolution'

By Joey Jones, Deputy Political Editor

The Green Party will launch its manifesto vowing to combat austerity which it says has "failed" and should be ended by a "peaceful political revolution".

The party has been more prominent than ever before in this election campaign, though its chances of building on its current tally of a single seat (Brighton Pavilion) remain limited.

The party leader, Natalie Bennett, is expected to argue its proposals represent a "genuine alternative to our tired, business-as-usual politics".

While ecological policies remain central to the Green brand, the party is making inroads into Labour and Liberal Democrat territory.

The party calls for what it describes as a fairer society, with the wealthiest paying substantially more in taxation and a desire to create many more jobs paying the living wage.

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In national polling, the Greens have at times leaped ahead of the Liberal Democrats at around 7 or 8%.

However, under a first-past-the-post voting system they are likely to struggle to translate their success into larger parliamentary representation.

Nevertheless, what party leaders describe as the "Green surge" is making Labour and Lib Dem rivals anxious and is shifting the dynamic in some marginal seats.

Video: Labour Manifesto: Do Sums Add Up?

The Greens' cause has not been helped by some halting performances by Natalie Bennett, most notably an interview with LBC's Nick Ferrari where she struggled to recall elements of party policy.

In recent weeks there are signs the leader has steadied the ship. She acquitted herself professionally in ITV's recent debate - but the knives will be out if there are any signs of frailty at this high-profile event.

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Tories Put Right To Buy At Heart Of Manifesto

By Anushka Asthana, Political Correspondent

David Cameron will say he leads the "party of working people" as he unveils a Conservative policy to extend the Right-to-Buy scheme to a further 1.3 million families.

The promise will be one of two big housing announcements in the Tory manifesto as the Prime Minister launches his detailed election pledges in Wiltshire.

As well as extending the ability to purchase your home at a discount to housing association tenants, the party will promise a £1bn fund for building 400,000 new properties on brownfield sites.

Mr Cameron will say: "At the heart of this manifesto is a simple proposition. We are the party of working people, offering you security at every stage of your life."

He will talk about young people looking for training, people trying to find a decent job, to buy their own home, needing help with childcare or relying on the NHS.

Video: Need To Know: Labour Pledges

Other Tory policy pledges will include:

:: Raising the personal allowance for tax to £12,500

:: Increasing the starting salary for the 40p rate to £50,000

:: Raising the inheritance tax threshold for family homes to £1m

:: An annual £8bn boost for NHS funding

Mr Cameron's claim that the Conservatives are the party for workers comes after Labour said it wanted to be seen as the fiscally responsible option for government.

Mr Miliband has sought to highlight a number of policies put forward by the Conservatives that are unfunded - saying every Labour manifesto pledge will be fully paid for.

A senior Conservative source told Sky News that his party was not worried by the Labour promise because it meant the opposition was choosing to talk about an area in which it was "weakest" in the eyes of the public.

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:: All You Need To Know About Party Manifestos

He claimed the Conservatives had a "track record" that meant its promises would be believed.

The Right-to-Buy allows people to buy their home at a discount but has so far been available only to those in council homes, with some housing association tenants accessing the weaker "right to acquire" and some having no rights.

Under the new plans they will all be able to apply for the main scheme which can lead to a discount of up to 70% depending on the length of the tenancy. The homes will have to be replaced.

A Tory Government would fund the Brownfield Regeneration Fund, and replacement of properties sold under the extended Right-to-Buy, by requiring local authorities to manage their housing assets more efficiently.

They would also have to sell off their most expensive properties and replace them in the same area with normal affordable housing as they fall vacant.

Ministers say this will lead to the sale and replacement of about 15,000 homes a year, or around four in every thousand social properties.

Mr Cameron will add: "Conservatives have dreamed of building a property-owning democracy for generations, and today I can tell you what this generation of Conservatives is going to do.

"The next Conservative Government will extend the Right-to-Buy to all housing association tenants in this country; 1.3 million extra families; a new generation given the security of a home of their own.

Video: Cameron's Election Pledge

"So this generation of Conservatives can proudly say it: the dream of a property-owning democracy is alive - and we will fulfil it."

He will call on voters "not to waste the past five years".

Labour says the plans are unfunded, accusing the Tories of turning to the "magic money tree" to put forward its ideas.

Emma Reynolds, Labour's Shadow Housing Minister, said: "Having exhausted the magic money tree, the Tories now want people to believe that they can magic up billions of pounds a year from selling off a few council homes.

"Under David Cameron home ownership is at its lowest point for three decades - there are over 200,000 fewer home owners since 2010."

Ruth Davison, Director of Policy and External Affairs at the National Housing Federation said: "While extending Right to Buy will see some people being able to buy their own home with help from the taxpayer, these are people already living in good secure homes on some of the country's cheapest rents.

"It won't help the millions of people in private rented homes who are desperate to buy but have no hope of doing so, nor the three million adult children living with their parents because they can't afford to rent or buy."

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Poundland Revenue Tops £1bn For First Time

Poundland's revenues exceeded £1bn for the first time in its last financial year as it continues to expand amid the continuing consumer bargain boom.

Europe's largest single-price discount retailer said in its fourth quarter trading update that it expected to meet full-year profit expectations for the 12 months to 29 March.

Analysts are on average forecasting a pre-tax profit of £44m.

Poundland, which trades from 547 UK stores, 41 in Ireland under the Dealz brand, said sales in the 13 weeks to 29 March grew 7.1% at constant currency.

For the 12 months total revenue, excluding a trial in Spain, grew 11.8% to just over £1.1bn.

Poundland said it had opened 60 net new stores in the UK and Ireland in its last year and had a strong pipeline of openings for the current 2015/16 period.

It is looking to capitalise on the entrenched recession-era growth in discount shopping, which has taken sales from Britain's "big four" supermarkets.

Last week the group learned it would likely have to sell some stores to avoid its proposed £55m takeover of smaller rival 99p Stores being referred for an in-depth investigation by British competition regulators.

The Competition and Markets Authority (CMA) said the deal, which would add 251 stores to Poundland's estate, could result in a substantial cut to competition and would face a further probe unless acceptable undertakings were offered by 16 April.

Poundland said on Tuesday it would make an announcement in due course.

Commenting on the results, chief executive Jim McCarthy, said: "After a solid quarter of sales growth, Poundland's revenue for the 2015 financial year was over £1bn for the first time.

"Despite tough trading conditions, Poundland continues to perform well and we served an average of 5.3 million shoppers a week during the quarter.

"We have managed our costs and cash well, and we expect underlying pre-tax profits to be in line with market expectations for the year as a whole.

"We achieved our target of 60 net new stores in the UK and Ireland and have a very strong pipeline of store openings for the current financial year.

"We expect to continue to deliver our growth strategy in the new financial year, notwithstanding some headwinds from a weaker Euro and a tough comparable in the first half."

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UK Holidaymakers Being Conned Out Of Millions

A warning has been issued to those booking holidays online, as it is revealed that British holidaymakers were conned out of £2.2m last year.

Criminal groups have targeted online booking firms to steal cash from unsuspecting customers and many only find out they have been conned when they arrive at their hotel and find no record of their booking.

A report from the National Fraud Intelligence Bureau found that in one case a holidaymaker lost £62,000 in a fraud relating to a dodgy timeshare scheme.

But losses are not just financial, with a third of victims saying the fraud has a substantial impact on their health as well as their finances and 167 victims said the impact of the crime was so severe they needed medical treatment.

The scams see a spike in the summer months and in December, which mean that many ruined trips will be for those trying to visit loved ones for Christmas.

The report shows that, during a 12-month period, 1,569 cases of holiday booking fraud were reported to the police action fraud team, with most relating to plane tickets, hacking accounts, posting fake adverts online and setting up bogus websites.

Sports and religious trips were an attractive target because of limited availability and higher prices and the 2014 Commonwealth Games in Glasgow and World Cup in Brazil were also targeted, with many people paying for fake tickets or accommodation.

Those aged between 30 and 49 were most often targeted and most victims were defrauded by methods such as bank transfers or cash with no means of getting their money back. Only a small number paid by credit or debit card where some form of redress is available.

Mark Tanzer, ABTA chief executive, said: "Holiday fraud is a particularly distressing form of fraud as the loss to the victim is not just financial but it can also have a high emotional impact.

"Many victims are unable to get away on a long-awaited holiday or visit to loved ones and the financial loss is accompanied by a personal loss. 

"We would also encourage anyone who has been the victim of a travel-related fraud to report it so that the police can build up a case, catch the perpetrators and prevent other unsuspecting people from falling victim."

Detective chief superintendent Dave Clark, the City of London Police head of economic crime, said: "Online shoppers must be vigilant and conduct all the necessary checks before booking a break to ensure the conmen are kept at bay."

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Conservatives Promise To Cut Inheritance Tax

The Conservatives have said they will take family homes out of inheritance tax by introducing a new allowance which effectively increases the threshold for tax to £1m.

David Cameron said that if his party wins the 7 May election, parents will be offered a new £175,000 allowance to enable them to pass property on to children tax-free after they die.

For properties worth more than £2m, the allowance will be gradually tapered away so that those worth more than £2.35m do not benefit.

Full coverage: General Election 2015

Inheritance tax is currently payable at a rate of 40% on the value of an estate above the £325,000 threshold - or £650,000 if a couple takes advantage of the existing allowance.

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It is thought around 22,000 families will benefit from the move by 2020 and Mr Cameron said the costs would be paid for by a £1bn raid on pension tax relief for people earning more than £150,000.

Mr Cameron said: "We will take the family home out of inheritance tax.

"That home that you have worked and saved for belongs to you and your family.

"You should be able to pass it on to your children. And with the Conservatives, the taxman will not get his hands on it."

The Conservatives promised a £1m inheritance tax threshold in the 2010 election, but were blocked by Liberal Democrats from implementing it when in coalition.

Video: PM Outlines Tax Position

Shadow home secretary Yvette Cooper told Sky's Murnaghan programme it is the "wrong priority" and "won't affect 90% of estates".

She said: "They are talking about a £140,000 tax cut for properties that are worth around £2m at a time when you've got families still losing their homes because of the bedroom tax, at a time when pensioners and families have had to pay more VAT."

The Institute For Fiscal Studies said the change would "disproportionately" benefit those on higher incomes.

In an observation published on its website after the announcement, the IFS said: "Since the children of those with very large estates are disproportionately towards the top of the income distribution the gains from this (and in fact any) IHT cut will also go disproportionately to those towards the top of the income distribution."

Meanwhile, Labour has revealed its plans to crackdown on tax-dodgers if it wins the election, hoping to cut avoidance and evasion by at least £7.5bn a year by the middle of the next Parliament.

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Shadow chancellor Ed Balls said it would take a Labour government to "call time" on the Tories' "lax approach", adding that Labour would set targets for HMRC to reduce tax avoidance by at least £7.5bn a year.

He said: "We will close the loopholes the Tories won't act on, increase transparency, toughen up penalties and abolish the non-dom rules.

"And our first Budget will make sure that, following an immediate review of HMRC, it has all the powers and resources it needs to come down hard on tax avoidance and evasion."

Conservative Treasury minister David Gauke said: "Ed Miliband and Ed Balls turned a blind eye to aggressive tax avoiding and evading for 13 years when they were in charge - they were the tax avoiders' friends."

The Lib Dems have also set out their tax plans, promising "light at the end of the tunnel" with moves to eliminate Britain's deficit by 2017/18.

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Nick Clegg said his plan has "a heart as well as a brain", trying to drive home his claim that his party will cut less than the Conservatives and borrow less than Labour.

Spelling out plans for a consolidation totaling £27bn by 2017/18, made up of £12bn in additional tax, £12bn in public spending reductions and £3bn in welfare cuts, Mr Clegg challenged the other parties to spell out in similar detail how they would balance the nation's books.

He said: "We are going to spread the burden of finishing the job of fixing the economy fairly across society.

"Yes that means more cuts, but it also means asking the wealthiest to pay their fare share too."

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Buyout Firm Flowers Eyes Bid For Genworth Arm

By Mark Kleinman, City Editor

Genworth Financial, a troubled US insurance company, is in talks with one of the financial services industry's most prolific investors about the sale of a business that includes a range of products sold to UK customers.

Sky News understands that JC Flowers, a private equity firm, is one of several bidders in talks with Genworth about acquiring its lifestyle protection unit, which comprises operations in more than 25 countries, including Britain.

The division had been identified as non-core by Genworth's management as long ago as 2012, but it was only put up for sale late last year, when investment bankers at Barclays were hired to oversee an auction.

Bankers estimate that the division could fetch in the region of $500m (£341m).

In addition to JC Flowers, which owns stakes in UK companies including OneSavings Bank and Cabot Financial, a debt collector, Apollo and Warburg Pincus are said to have expressed an interest in the Genworth business.

Genworth Lifestyle Protection writes both direct and reinsurance business including to large global companies that want access to the wholesale market.

Its products include credit-linked protection for customers when they are unable to meet repayments on specific financial commitments in the event of  illness, accident, unemployment, disability or death.

The division's auction comes as Genworth explores a wider break-up, including through a sale of its Life and Annuity Insurance Company.

In February, it announced a strategic after recording a $1.6bn (£1.1bn) loss in the second half of last year because it did not have suufficient money set aside to cover payouts on long-term care policies.

Speaking at the time, Tom McInerney, Genworth's president and chief executive, said: "I am disappointed by the continued challenges in our older LTC [long-term care] blocks and how it is overshadowing otherwise strong performance and momentum in other businesses, however we have taken steps on many fronts to deal with these challenges in order to strengthen and rebuild the future."

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UK Holidaymakers Being Conned Out Of Millions

A warning has been issued to those booking holidays online, as it is revealed that British holidaymakers were conned out of £2.2m last year.

Criminal groups have targeted online booking firms to steal cash from unsuspecting customers and many only find out they have been conned when they arrive at their hotel and find no record of their booking.

A report from the National Fraud Intelligence Bureau found that in one case a holidaymaker lost £62,000 in a fraud relating to a dodgy timeshare scheme.

But losses are not just financial, with a third of victims saying the fraud has a substantial impact on their health as well as their finances and 167 victims said the impact of the crime was so severe they needed medical treatment.

The scams see a spike in the summer months and in December, which mean that many ruined trips will be for those trying to visit loved ones for Christmas.

The report shows that, during a 12-month period, 1,569 cases of holiday booking fraud were reported to the police action fraud team, with most relating to plane tickets, hacking accounts, posting fake adverts online and setting up bogus websites.

Sports and religious trips were an attractive target because of limited availability and higher prices and the 2014 Commonwealth Games in Glasgow and World Cup in Brazil were also targeted, with many people paying for fake tickets or accommodation.

Those aged between 30 and 49 were most often targeted and most victims were defrauded by methods such as bank transfers or cash with no means of getting their money back. Only a small number paid by credit or debit card where some form of redress is available.

Mark Tanzer, ABTA chief executive, said: "Holiday fraud is a particularly distressing form of fraud as the loss to the victim is not just financial but it can also have a high emotional impact.

"Many victims are unable to get away on a long-awaited holiday or visit to loved ones and the financial loss is accompanied by a personal loss. 

"We would also encourage anyone who has been the victim of a travel-related fraud to report it so that the police can build up a case, catch the perpetrators and prevent other unsuspecting people from falling victim."

Detective chief superintendent Dave Clark, the City of London Police head of economic crime, said: "Online shoppers must be vigilant and conduct all the necessary checks before booking a break to ensure the conmen are kept at bay."

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