David Cameron will declare that the Conservatives are “the party of working people” as he revives the right to buy scheme and announces that people earning minimum wage will not pay tax under a Tory government.
The move will be seen as an attempt to emulate the success of Margaret Thatcher by broadening the party’s support base outside of the middle classes.
And it will aim to take advantage of the perception that Labour under Ed Miliband have abandoned their traditional working class heartlands.
Mr Cameron will make an emotional appeal to voters and ask them not to “waste the past five years” by backing Mr Miliband in next month’s election.
The Prime Minister will promise to give voters “security at every stage of your life” by revolutionising the right to buy housing scheme to ensure it applies to housing association tenants.
And he is also expected to unveil a policy to ensure that a person on the minimum wage does not pay income tax.
Under a Conservative government the minimum wage will be linked to the personal allowance, which the Tories want to increase to £12,500 by the end of the next Parliament.
It means that if the minimum wage increases faster than expected, workers will always be exempt from paying income tax.
The new policies will reinvigorate the Conservative general election campaign and are designed to woo back disaffected Ukip voters and wavering Labour supporters across England.
It follows an announcement at the weekend to end inheritance tax on properties worth up to £1 million, removing millions of middle-income families from the threat of the levy.
“At the heart of this manifesto is a simple proposition,” Mr Cameron will say. “We are the party of working people, offering you security at every stage of your life.
“If you’re a young person looking for training. If you’re looking for a decent job. If you want to buy your own home. If you’re raising a family and need help with childcare. If you fall ill, and need to rely on our NHS. If you are reaching retirement, and want real security, we are there for you – offering security at every stage of your life.”
David Cameron’s gaffes in 60 seconds
It came as:
- Ed Miliband’s bid to convince people of his economic credibility was undermined when a leading the independent Institute for Fiscal Studies think-tank said his manifesto is so vague that the public would not know what they were voting for.
- Labour will put patient safety at risk because of its failure to match a Conservative pledge to give the NHS an extra £8billion a year, a leading healthcare think-tank suggested.
- New growth forecasts published by the IMF on Tuesday are expected to cement Britain’s position as one of the fastest growing advanced economies in the world this year, and the strongest in Europe.
- A poll put the Conservatives six points ahead of Labour, their biggest lead since 2012.
- Nigel Farage faced embarrassment as he tried small-talk with a factory worker who turned out to be an immigrant who could not speak English.
- Nick Clegg ruled out another coalition with the Conservatives if they go ahead with plans to make £12billion of cuts to the welfare bill.
The original right to buy scheme was set up in the 1980s was credited with taking the Conservatives to election victory under Baroness Thatcher.
Since it was set up more than 2million council houses have been sold.
However, the current rules make it difficult for hundreds of thousands of people living in housing association properties to purchase their homes.
There are around 800,000 housing association tenants who have a limited “right to acquire”, which was set up in 1996.
Maximum discounts are capped at between £9,000 to £16,000, meaning that most tenants are unable to afford their property.
However, under the Tory pledge, they will be given the full right to buy discount.
Tenants in houses will get a 35 per cent discount, increasing by 1 per cent for every extra year they have been in the property. Tenants in flats get a 50 per cent discount which goes up 2 per cent every year.
The discounts will be worth up to £77,000 across England and up to £102,700 in London.
General Election 2015 – what are the possible outcomes?
The right to by extension will be funded by forcing councils to sell off their most valuable properties when they become empty, a move that will raise £4.5billion a year.
The Tories will also pledge in the manifesto to create a new £1billion to build 400,000 new homes on brownfield land.
Mr Cameron will say: “My message to Britain is this: we have come this far together. Let’s not waste the past five years.
“Now is not a time to put it all at risk, but to build on the progress we have made. We are the party of working people. So if you want a more secure Britain, if you want a brighter future for your family, and for you, then together, let’s build on what we’ve done – and see this through.”
The Tories have already pledged that 200,000 “decent, well-built homes with gardens” sold at a 20 per cent discount will be made available to first-time buyers.
The Conservatives will accelerate a plan to provide cut-price starter houses to under-40s in order to ensure that “everyone who works hard can have a home of their own”.
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.”