The common perception of the difference between the two main parties is how quickly they plan to introduce spending cuts. By 2032 all three parties will have reached the 40% debt level. The cut now or cut later debate at least comes close to an ideological difference. Which will be the most beneficial for jobs and growth? Gordon Brown last night came out fighting when he said ‘Let us not make the mistakes of the 1930s, 1980s and 1990s – Don’t withdraw the support... until the recovery is assured’. David Cameron came back with ‘The risk to the recovery is not cutting waste, the risk... is putting up national insurance’. The fact is that no matter which party wins there will have to be increases in taxation and/or draconian spending cuts that none of the parties will admit to. To do so would be political suicide.