"Four huge shadows hang over this claustrophobic election, about which the three main parties will be trying to say as little as possible. The first, obviously, as part of the catastrophic legacy of 13 years of Labour misrule, is the barely imaginable scale of the deficit in public spending.
This is now growing so fast that it is difficult to find ways of bringing home how stupendous it has become. The Taxpayers' Alliance has tried to do it by pointing out that public debt is rising by £447,575,342 – virtually half a billion pounds – every day. With the Government's own projections showing that within four years the National Debt will have doubled to £1.4 trillion, I recently used figures from the Institute for Fiscal Studies to show that by 2014, in only four years' time, it will be costing us the equivalent of £60 a week for every household in the land just to pay the interest on the debt - let alone paying off the debt itself...."