Labour attack Tory economic policy

The Conservative Party manifesto, launched earlier today, has been criticised by opponents as being unrealistic.

The pledge of £35 billion of savings from "government slimlining", and subsequent tax cuts, has been attacked by Labour and the Liberal Democrats. The Conservatives plan to continue funding front-line services at the current rate by relying on economic growth to make up the difference.

Labour described the plans as "a complete economic mess", the current Chancellor, Gordon Brown claiming there would be a shortfall of "£18.9bn in year one, £18.5bn in year two and £14.4bn in year three." Labour leader Tony Blair claimed that the Labour and the Conservatives economic roles had reversed since the 1980s, when many had lost faith in Labour's ability to handle the economy.

The deputy leader of the Liberal Democrats, Sir Menzies Campbell, claimed that £5.5 to 8 billion of cuts were unrealistic.

Labour's manifesto is launched tomorrow, and the Liberal Democrats launch theirs on Thursday. Conservative shadow Chancellor Oliver Letwin has already criticised Gordon Brown's budget of March this year, claiming it will create an £11bn shortfall.