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Clegg Accuses Tories Of 'Tea Party' Move To Right

Nick Clegg has accused the Conservatives of putting forward a "Tea Party manifesto" for Britain in a highly critical speech to launch his party's financial plans for the next Parliament.

The Lib Dem leader hit out at his Coalition partners, claiming there would be "no light at the end of the tunnel" if they achieved a majority that allowed them to govern alone.

His "Tea Party" quip was meant to imply a sharp Tory swing to the right by drawing comparisons with the ultra-conservative movement in the US.

He said Tory plans amounted to cuts of £54bn a year. "That's more than we spend on all our schools put together and four times what we spend on our police," he said.

"It means they will have to make deep cuts to everything from nurseries and social care to police and the armed services."

Mr Clegg also attacked Labour, in a speech designed to place the Lib Dems at the centre of British politics.

He said his party would borrow £70bn less than Ed Miliband's leading to £4bn less in debt interest.

"If we stick to the sensible and balanced course we have set, there will be a light at the end of the tunnel. An end to austerity in three years' time,"he added.

The Lib Dems today outlined measures that they would use to raise money, insisting that their plans would mean no increase in income tax, national insurance, VAT or corporation tax.

Instead, they are proposing a new bank levy, higher charges on non-doms, and their own version of the mansion tax. They are also promising to limit any benefit increases to 1% for two years, which wouldn't mean a real terms cut at the moment because inflation is so low.

Danny Alexander, the chief secretary to the Treasury, argued that the party had done the right thing entering the coalition by bringing Britain "back on track".

He said that the speed of cuts promised by the Tories threatened the recovery, while Labour's plans would mean dragging out the pain.

The polls show that the Lib Dems continue to face a major challenge ahead of this May's election. Many voters appear to have not forgiven the party for entering a coalition with the Conservatives or for policy compromises, including the u-turn on tuition fees.

A Conservative spokesman said: "Five years ago we went into coalition with the Liberal Democrats to tackle the economic emergency left by Labour. But now as the recovery takes hold, Britain needs competence and stability - it cannot run the risk of Ed Miliband in Downing Street, backed up by the Liberal Democrats."