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Parties face cut plans scrutiny Parties face cut plans scrutiny
(40 minutes later)
The parties face growing scrutiny of their spending plans amid claims they are not being upfront ahead of polling day about the scale of future cuts.The parties face growing scrutiny of their spending plans amid claims they are not being upfront ahead of polling day about the scale of future cuts.
The Institute for Fiscal Studies said the parties' plans were thin on detail.The Institute for Fiscal Studies said the parties' plans were thin on detail.
Chancellor Alistair Darling and his opposite numbers, George Osborne and Vince Cable, will all face questions in a series of public appearances.Chancellor Alistair Darling and his opposite numbers, George Osborne and Vince Cable, will all face questions in a series of public appearances.
Labour will campaign on crime while the Tories and Lib Dems will focus on bank reform and tuition fees respectively.Labour will campaign on crime while the Tories and Lib Dems will focus on bank reform and tuition fees respectively.
The three largest parties at Westminster came under fire on Tuesday for a lack of clarity about the spending squeeze required to meet their deficit-reduction targets over the next four years.The three largest parties at Westminster came under fire on Tuesday for a lack of clarity about the spending squeeze required to meet their deficit-reduction targets over the next four years.
The Institute for Fiscal Studies (IFS) said no party had come "anywhere close" to making clear where the axe would fall after the general election.The Institute for Fiscal Studies (IFS) said no party had come "anywhere close" to making clear where the axe would fall after the general election.
This, it said, was despite the parties' plans implying the deepest cuts in spending since the 1970s and - in the case of the Conservatives - the biggest one-year reduction in public spending since demobilisation at the end of World War II.This, it said, was despite the parties' plans implying the deepest cuts in spending since the 1970s and - in the case of the Conservatives - the biggest one-year reduction in public spending since demobilisation at the end of World War II.
'Painful choices''Painful choices'
Senior figures from the three parties are likely to be put on the spot by business leaders over the issue at Wednesday's annual conference of the Institute of Directors.Senior figures from the three parties are likely to be put on the spot by business leaders over the issue at Wednesday's annual conference of the Institute of Directors.
Shadow chancellor George Osborne, Lib Dem Treasury spokesman Vince Cable and Business Secretary Lord Mandelson will all take questions.Shadow chancellor George Osborne, Lib Dem Treasury spokesman Vince Cable and Business Secretary Lord Mandelson will all take questions.
Mr Osborne is expected to set out plans for a new regulation system, a bank levy and the creation of a new economic crime agency.Mr Osborne is expected to set out plans for a new regulation system, a bank levy and the creation of a new economic crime agency.
He is set to tell his audience: "Our objective is very clear: a successful and competitive banking industry that works for the people instead of being bailed out by the people."He is set to tell his audience: "Our objective is very clear: a successful and competitive banking industry that works for the people instead of being bailed out by the people."
Meanwhile, Mr Darling is expected to say that, having listened to Tory policies and assessed their judgment, he believes the Conservatives are "dangerous".Meanwhile, Mr Darling is expected to say that, having listened to Tory policies and assessed their judgment, he believes the Conservatives are "dangerous".
"It's not their youth and inexperience that worries me about the Tory leadership. It is their values, their instincts and their dangerous policies," he is expected to say."It's not their youth and inexperience that worries me about the Tory leadership. It is their values, their instincts and their dangerous policies," he is expected to say.
Separately, the chancellor will make a keynote speech in Edinburgh as the economy takes centre stage ahead of Thursday's final TV prime ministerial debate - which will focus predominantly on the issue.Separately, the chancellor will make a keynote speech in Edinburgh as the economy takes centre stage ahead of Thursday's final TV prime ministerial debate - which will focus predominantly on the issue.
Robert Chote, IFS director: "We are all in the dark"Robert Chote, IFS director: "We are all in the dark"
The BBC's Political Editor Nick Robinson said the parties' reluctance to talk about the details of future cuts was understandable given the closeness of polling day, but it risked another crisis in confidence in the political system if people felt they were only told the truth after the election.The BBC's Political Editor Nick Robinson said the parties' reluctance to talk about the details of future cuts was understandable given the closeness of polling day, but it risked another crisis in confidence in the political system if people felt they were only told the truth after the election.
Lord Mandelson said on Tuesday that there were "painful choices" ahead on tax and spending, but argued that Labour had been upfront that tax increases - such as next year's planned rise in National Insurance - were unavoidable if action was to be taken.Lord Mandelson said on Tuesday that there were "painful choices" ahead on tax and spending, but argued that Labour had been upfront that tax increases - such as next year's planned rise in National Insurance - were unavoidable if action was to be taken.
Shadow treasury chief secretary Philip Hammond said his party had set out "some of the areas" to be cut but could not go further because Labour's refusal to publish departmental spending plans meant it did not have enough information. Shadow Treasury chief secretary Philip Hammond said his party had set out "some of the areas" to be cut but could not go further because Labour's refusal to publish departmental spending plans meant it did not have enough information.
Mr Cable told BBC Two's Newsnight his rivals were relying on "lazy assumptions" about efficiency savings and, in contrast, his party had identified £15bn of cuts: "It is not enough but it is a very substantial step towards it," he said.Mr Cable told BBC Two's Newsnight his rivals were relying on "lazy assumptions" about efficiency savings and, in contrast, his party had identified £15bn of cuts: "It is not enough but it is a very substantial step towards it," he said.
He refused to rule out means-testing child benefit as a money-saving measure.
Tuition feesTuition fees
After the Conservatives focused on crime on Tuesday - with leader David Cameron saying millions of lives were being blighted by poverty, family breakdown, educational failure and social irresponsibility - Labour will turn their attention to the subject.After the Conservatives focused on crime on Tuesday - with leader David Cameron saying millions of lives were being blighted by poverty, family breakdown, educational failure and social irresponsibility - Labour will turn their attention to the subject.
Home Secretary Alan Johnson, who has attacked Conservative claims of a "broken society" as "claptrap", will outline the party's policy on neighbourhood policing.Home Secretary Alan Johnson, who has attacked Conservative claims of a "broken society" as "claptrap", will outline the party's policy on neighbourhood policing.
Gordon Brown and Labour colleagues will highlight the importance of CCTV cameras in catching criminals and requiring offenders to make good for their crimes by working in the community.Gordon Brown and Labour colleagues will highlight the importance of CCTV cameras in catching criminals and requiring offenders to make good for their crimes by working in the community.
The Tories will outline plans to make the banking system more responsible and geared to the needs of its customers.The Tories will outline plans to make the banking system more responsible and geared to the needs of its customers.
Meanwhile, Mr Clegg will argue his party is the only one committed to scrapping student tuition fees, although he will admit the crisis in the public finances means this cannot be done "overnight".Meanwhile, Mr Clegg will argue his party is the only one committed to scrapping student tuition fees, although he will admit the crisis in the public finances means this cannot be done "overnight".
He will say his opponents want to allow universities to raise the current cap on fees, and this would be a "disaster".He will say his opponents want to allow universities to raise the current cap on fees, and this would be a "disaster".
"Students can make the difference in countless seats in this election," he will say."Students can make the difference in countless seats in this election," he will say.
"Use your vote to block those unfair tuition fees.""Use your vote to block those unfair tuition fees."
Debate issuesDebate issues
Ahead of the third and final prime ministerial debate on Thursday, a court in Edinburgh will continue considering a legal challenge to the event by the SNP.Ahead of the third and final prime ministerial debate on Thursday, a court in Edinburgh will continue considering a legal challenge to the event by the SNP.
The party say their leader has been unfairly excluded from the encounter and transmission should be blocked in Scotland unless they are involved.The party say their leader has been unfairly excluded from the encounter and transmission should be blocked in Scotland unless they are involved.
The BBC, which is hosting the debate, has said blocking TV coverage would be "contrary to the public interest" and "impractical".The BBC, which is hosting the debate, has said blocking TV coverage would be "contrary to the public interest" and "impractical".
The UK Independence Party have also threatened to seek a judicial review, saying their leader should be allowed to take part.The UK Independence Party have also threatened to seek a judicial review, saying their leader should be allowed to take part.
Meanwhile, the latest opinion polls continue to suggest no single party is on course to win an outright majority.Meanwhile, the latest opinion polls continue to suggest no single party is on course to win an outright majority.
A Populus poll for the Times puts the Conservatives on 36%, up four points on last week, the Lib Dems down three points on 28% and Labour down one on 27%.A Populus poll for the Times puts the Conservatives on 36%, up four points on last week, the Lib Dems down three points on 28% and Labour down one on 27%.
A YouGov daily tracker poll for the Sun puts the Conservatives on 33%, Labour on 29% and the Lib Dems on 28% whjle a Comres poll for the Independent and ITV News puts the Tories on 33% and Labour and the Lib Dems level-pegging on 29%.A YouGov daily tracker poll for the Sun puts the Conservatives on 33%, Labour on 29% and the Lib Dems on 28% whjle a Comres poll for the Independent and ITV News puts the Tories on 33% and Labour and the Lib Dems level-pegging on 29%.
The BBC's polling expert David Cowling said the polls were following the pattern of the past 10 days, with the battle a clear three-horse race and a hung parliament remaining a distinct possibility.The BBC's polling expert David Cowling said the polls were following the pattern of the past 10 days, with the battle a clear three-horse race and a hung parliament remaining a distinct possibility.