Darling: Tories can't fund promises

LONDON, Jan. 4 (UPI) -- The British Conservative Party has made $55 billion in unfunded promises, Chancellor of the Exchequer Alistair Darling said Monday.

Darling, signaling the start of the general election campaign, also revealed that his Labor Party would keep the 50 percent top tax rate throughout the next Parliament, The Times of London reported.

The newspaper said Darling's comments were meant to bring attention to a Labor document released Monday in which party leaders claim the Tories' tax cut plans would cost $34 billion per year by the end of the next Parliament, with the reversing of planned tax rises costing another $21.5 billion while $18 billion would have to be found to pay for existing spending commitments.

Conservative leaders shot back, reportedly calling the document a "dodgy dossier full of lies."

Darling wouldn't repeat an earlier assertion that the 50 percent top tax rate was temporary, telling reporters, "It is necessary to raise this money over a four-year period. No Chancellor would want to put a time limit on any taxes."