IoD say none of the parties have explained how they plan to eliminate deficit

The Institute of Directors is calling on political parties to up their game and explain exactly how they are going to eliminate the deficit.

They say that all of the parties are failing to give “even the broadest details” on their plans.

James Sproule, chief economist at IoD said: “All the major political parties have talked about the importance of fiscal responsibility.

However, they are reluctant to give even the broadest of details about how they are proposing to eliminate the deficit. A mature debate on the sustainable level of public finances should be part at the heart of the election campaign.

He adds: “Plans to balance the budget through higher taxes are unlikely to be successful and would threaten UK growth. It is also very disappointing to see the parties entering a bidding war on new spending, with little detail on how this would be paid for.”