Ahead of the launch of the full Liberal Democrat general election manifesto later this week, the party has published the detailed costings behind it (update – the Lib Dem manifesto is now published here) – showing how the party will find the money to provide the NHS with the funding it needs, along with closing the deficit in a fair way.
In addition to extra funds for the NHS, the costing document also sets out the areas of public spending the party wants to see ring-fenced in the post-election spending review: “education spending from 2-19, science spending and our commitment to spending 0.7% of GDP on international aid”.
The balance between tax rises and spending cuts for clearing deficit (and finding the money for the party’s other expenditure commitments) is that spending cuts make up 50.3% of the total in the first year and 50.7% in the second, with tax rises making up 49.7% in the first year and 49.3% in the second.
Having pushed the conference amendment for the split to be 50/50 you can imagine I’m pretty happy with this outcome, especially as it is a long way from the days when 80/20 (spending cuts / tax rises) was talked about.
The full spending document is below, but first a reminder of the overall policies this is all about: