Conservative leader William Hague is set to unveil a package of tax cuts worth £8 billion as part of his party's general election strategy.

The abolition of income tax on most pensioners' savings and spending cuts worth several billion pounds are expected to be among the announcements today, with further measures set out in the coming weeks.

The Tories aim to re-establish themselves as a tax-cutting party, with families, pensioners and savers to be the key beneficiaries.