Nick Clegg
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Liberal Democrat conference: Nick Clegg urges tax rise to cut deficit

Liberal Democrat leader Nick Clegg has said taxes "must" be increased to cut the deficit after the next general election.

Speaking to the BBC's Andrew Marr, he also confirmed he had dropped plans for a "mansion tax" in favour of new council tax bands on high value homes.

The deputy prime minister said this would raise £1.5bn, which would go towards ''filling the black hole of public finances''.

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