jake.....Government borrowing for next year may well have to be between £75billion---£100billion depending upon who you believe.
The interest at least will cause for a rise in taxes of £25billion.
Raising taxes on the "rich" aborting Trident and " hammering" the Bankers is small potatoes and the way to get increase taxes on the middle classes. No party wants to do that before an election.
That only leaves cuts in public spending. The Conservatives have given only scattered information on that topic and Labour tells us that they are not going to cut costs in NHS, Schools or public services.
So where do we stand? Cuts will have to be made, but when?......Now says the Conservatives, when we are out of recession says Labour.
I do not know the answer to that, but Labour has one big advantage......they can say whatever they like as it is extremely likely that they will not be in power to implement it.