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David Cameron has unveiled tax cuts that the Conservatives say could benefit up to 30m people.
In his conference address, the Prime Minister said a future Conservative government would raise the personal income tax allowance by £2,000 to £12,500.
He also pledged to raise the threshold for those who pay the 40p tax rate from £41,900 to £50,000.
"Let the message go out: With the Conservatives, if you work hard and do the right thing, we say you should keep more of your own money to spend as you choose," he said.
The policies, which Mr Cameron said would be delivered by the end of the next Parliament, will cost £7.2bn per year.
Labour questioned whether the Conservatives would be able to deliver the cuts, with Shadow Chancellor Ed Balls branding them "pie in the sky promises of tax cuts in six years' time".
The Institute for Fiscal Studies also said it would be "very difficult" to see how the party's plans could be paid for.
"We’re looking at promises of £7bn of tax giveaways in the context of an overall plan to get the deficit down,"," IFS director Paul Johnson told the World at One.
"But even without tax giveaways that requires pretty extraordinary levels of spending cuts such that most government departments will see their spending cut by 1/3 by 2020."
Michael Gove insisted the plans were affordable because of "tough decisions" the Government had made to cut spending.
"We will reduce the deficit, move to surplus, and deliver these tax cuts, all in the lifetime of the next parliament," the Chief Whip told Sky News.
Meanwhile, the Liberal Democrats accused the Tories of stealing their policy by pledging to increase the tax threshold.
Chief Secretary to the Treasury Danny Alexander said: "The Tories' shameless attempt to copy Liberal Democrat tax policy will be utterly incredible to the millions of working people who they have made clear will be their main target for cuts in the next Parliament."
Dominic Cummings, a former adviser to Chief Whip Michael Gove, claimed that Mr Cameron's supporters had previously rejected his calls to raise the tax thresholds.
“Now Cameroons doing what they always said was stupid - promising tax cuts to try to swing an election,” Mr Cummings tweeted.
Catch up on all the action from Conservative Party conference with our comprehensive liveblog.
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