Lib-Demonomics

11 January 2010 By Neil Collins

Britain’s minority Lib Dem party is downgrading some expensive spending pledges to aspirations, shrinking the policy gap with the Conservatives. If this year’s general election is inconclusive, the Lib Dems’ price for joining a Labour coalition would be deeper spending cuts.

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Nick Clegg accused the two main UK parties of "treating people like children" and revealed more details of the Liberal Democratic party's election plans at a Reuters Newsmaker event on Monday.

The party leader refused to be drawn on the issue of an election result which produced no overall majority. He claimed he was keeping manifesto pledges to a minimum because Britain could not afford "shopping lists of promises". However, he promised more spending on education and infrastructure.

Clegg also pledged that banks operating in London would be split, separating the riskier investment banking operations from the conventional lending, clearing and money transmission functions.

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