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Parties face cut plans scrutiny Parties face cut plans scrutiny
(30 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 are campaigning on crime while the Tories and Lib Dems focus on bank reform and tuition fees respectively.Labour are campaigning on crime while the Tories and Lib Dems focus on bank reform and tuition fees respectively.
Wednesday's other developments include:Wednesday's other developments include:
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.
Robert Chote, IFS director: "We are all in the dark"Robert Chote, IFS director: "We are all in the dark"
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 (IoD).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 (IoD).
Its director general, Miles Templeman, says businesses are "shocked at the complacency of our politicians".Its director general, Miles Templeman, says businesses are "shocked at the complacency of our politicians".
He told BBC Radio 4's Today programme that the parties' main failure was "to really describe the scale of the deficit reduction we're going to need".He told BBC Radio 4's Today programme that the parties' main failure was "to really describe the scale of the deficit reduction we're going to need".
"On top of that I think it's the long-term plans on infrastructure investment, on rebuilding our skills position and on deregulating. All of the issues that are critical to business are not really being described in any great detail in the run up to the election," he said."On top of that I think it's the long-term plans on infrastructure investment, on rebuilding our skills position and on deregulating. All of the issues that are critical to business are not really being described in any great detail in the run up to the election," he said.
However, Foreign Secretary David Miliband said Labour's commitment to halving the deficit within four years was clear, with planned cuts in transport capital spending, departmental budgets and savings through public sector pension and pay restraint.However, Foreign Secretary David Miliband said Labour's commitment to halving the deficit within four years was clear, with planned cuts in transport capital spending, departmental budgets and savings through public sector pension and pay restraint.
When pressed as to why the party had not given more detail, he said: "In an economic hurricane you don't do a detailed weather forecast."When pressed as to why the party had not given more detail, he said: "In an economic hurricane you don't do a detailed weather forecast."
He said the main complaint of the IFS appeared to be that the government had not set out planned cuts into 2016/17 - well into the parliament after next.He said the main complaint of the IFS appeared to be that the government had not set out planned cuts into 2016/17 - well into the parliament after next.
'Economic illiteracy''Economic illiteracy'
Mr Miliband also described Conservative leader David Cameron's comparison of the UK to Greece, where the credit rating has been downgraded to "junk", as "economic illiteracy".Mr Miliband also described Conservative leader David Cameron's comparison of the UK to Greece, where the credit rating has been downgraded to "junk", as "economic illiteracy".
UK current account and annual deficits were much smaller and debts were payable over a longer period, he added.UK current account and annual deficits were much smaller and debts were payable over a longer period, he added.
Shadow chancellor George Osborne, Lib Dem Treasury spokesman Vince Cable and Business Secretary Lord Mandelson will all take questions at the IoD conference. Lib Dem Treasury spokesman Vince Cable told the IoD that politicians needed to break down some "basic taboos", such as cuts in welfare benefits.
He said the Lib Dems had plans to scrap child trust funds, reduce winter fuel payments for the under 65s and address public sector pension funding.
Mr Cable said it made "absolutely no sense" to cut back the budgets of "low-profile departments to protect bureaucracy in high-profile departments", such as education or health.
How taxes are raised and spent Stephanie Flanders: A conspiracy of silence
But he added: "In the short-term, you shouldn't be doing anything in government that pushes the economy into a double-dip recession."
Speaking at a campaign event in Wakefield, Mr Cameron said only his party would take tough action such as imposing a public-sector pay freeze and cutting back on the availability of child trust funds and child benefits.
"The responsibility for the start of this problem and not being frank with the public lies squarely at the door of Gordon Brown," he added.
Shadow chancellor George Osborne and Business Secretary Lord Mandelson will also take questions at the IoD conference.
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".
How taxes are raised and spent Stephanie Flanders: A conspiracy of silence
"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.
CCTV debate
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.
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 Labour had been upfront that tax increases - such as next year's planned rise in National Insurance - were unavoidable.
Shadow Treasury chief secretary Philip Hammond said his party could not go further in detailing cuts because Labour had not published enough departmental spending information.
Mr Cable told BBC Two's Newsnight his rivals were relying on "lazy assumptions" about efficiency savings, whereas his party had identified £15bn of cuts. He refused to rule out means-testing child benefit as a money-saving measure.
Tuition 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 hit back.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 hit back.
Home Secretary Alan Johnson said Tory claims about rising crime were based on "fundamental deceit" and set about defending use of CCTV to tackle crime.Home Secretary Alan Johnson said Tory claims about rising crime were based on "fundamental deceit" and set about defending use of CCTV to tackle crime.
He introduced model Katie Piper, who had acid thrown in her face in north London in March 2008 and whose attackers were convicted using CCTV evidence.He introduced model Katie Piper, who had acid thrown in her face in north London in March 2008 and whose attackers were convicted using CCTV evidence.
FROM THE TODAY PROGRAMME More from Today programmeFROM THE TODAY PROGRAMME More from Today programme
She said: "The feeling [on the day they were sentenced] of relief and faith restored in society was unbelievable. I'm very comforted by the thought that CCTV cameras are in public areas."She said: "The feeling [on the day they were sentenced] of relief and faith restored in society was unbelievable. I'm very comforted by the thought that CCTV cameras are in public areas."
The Tories will later outline plans to make the banking system more responsible and geared to the needs of its customers.The Tories will later 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 final prime ministerial debate on Thursday, an Edinburgh court will continue considering a legal challenge to the event. The SNP say their leader has been unfairly excluded and transmission should be blocked in Scotland unless they are involved.Ahead of the final prime ministerial debate on Thursday, an Edinburgh court will continue considering a legal challenge to the event. The SNP say their leader has been unfairly excluded 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 UK Independence Party have also threatened to seek a judicial review, saying their leader should be allowed to take part.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.
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% while 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% while 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 head of political research 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 head of political research 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.