Now all three major parties have launched their manifestos it’s clear that no one is being honest about the true state of the country’s finances. The Conservative manifesto
is scarcely more ambitious than plans published by the government or the Liberal Democrats. The timing and magnitude of proposed deficit cuts are slightly different, but taxes will rise significantly whoever wins on May 6th. This comes after 10 years of huge increases in discretionary government spending both in real terms and relative to national income, with tax rises following in their wake.