'Tax on Londoners' claim over raid on £70,000 households

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The Lib-Dem leader said the tax rises were necessary to "redress the balance" between the rich and poor. He also released the results of a YouGov opinion poll showing public backing for the policies.

Internal critics fear the taxes could backfire in the Lib-Dem heartlands of southwest London, where the party faces a strong challenge from the Conservatives. In the key constituency of Richmond Park, where Tory Zac Goldsmith is looking to unseat Susan Kramer, the average household income is £71,925 - meaning thousands of voters would be worse off under the plans.

Sir Menzies said the wealthy had done "too well" under Labour. "I think it is right people on lower and middle income who have suffered so badly should be allowed some redress, and the people at the top end in this country have done very well - indeed they have done too well."

The Lib-Dems want to use green taxes and higher rates for the rich to pay for their plans to cut the basic rate of income tax of 20p to 16p. Sir Menzies said nine out 10 people would be better off under his plans.