UK 2017 General Election - Conservatives May and Hammond economic press conference

The transcript discusses the importance of balancing the national budget by living within means, emphasizing a sensible and measured approach. It highlights the need to balance deficit reduction with investment in the economy and public services. The transcript contrasts the tax policies of different political parties, noting that conservatives favor lower taxes while Labor supports higher taxes.

What does the speaker mean by 'we are a low tax party'?

According to the speaker, what is the instinct of conservatives regarding taxes?