Nick Clegg today responded to the publication of the Labour manifesto by pointing out that their plans to reduce the deficit to zero by 2020-21 will cost us all a grand total of £70bn in extra borrowing. That's a lot of money.
Liberal Democrats believe the deficit can be paid off by 2017-18, saving us all money and allowing us to invest in our country sooner.
Nick also reminded people that Labour's 10p starting rate of tax gives people an extra £37 a year, quite a lot less than our promise to keep giving people more of their own money back - up to £400 in the next Parliament if we are in government. Remember, in coalition we've already ensured that you have an extra £825 a year, a policy so good the Tories are desperate to take credit for it.
Imitation remains the sincerest form of flattery but we must remember that David Cameron told Nick in 2010 that we simply couldn't afford to cut people's income taxes. It's on youtube if you want a bit of nostalgia.
The other huge gap in the promises made by the Labour Party today is the failure to match our pledge to give the NHS in England the extra £8bn which its head, Simon Stevens, has said will be needed by 2020.
We've delivered in government and we've made sure we pay our way as well. Not bad for a party with 57 MPs.
Read Nick's response to the Labour funding plans here.
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