What do their plans mean for UK debt? "It is hard to imagine two parties offering more different prospectuses to the British population," Johnson told CNBC. I worked for several years as a consultant to the Debt Management Office of HM Treasury and can say with authority that it was neither and that a large chunk of it was raised by the Liberals. Ideologically-driven austerity has choked the economy, harmed public services and doubled the national debt. At the last Conservative Party Conference, Boris Johnson applauded the Tories for having “tackled the debt and the deficit” left by the last Labour Government. "The Conservative manifesto is essentially 'steady she goes', no increases in taxes, very little in the way of spending rises, nothing changing in the welfare system. His view is that the country’s recovery began when some of the austerity measures were ended, allowing it to recover from the 2008-2009 financial crisis and three years of negative GDP growth and high unemployment as austerity measures took hold.The Conservatives should take note of the reasons behind the Portuguese economic turnaround. The UK national debt is often confused with the government budget deficit ... the Labour Government of Tony Blair had inherited a PSNCR of approximately £5 billion per annum, but by sticking to the parsimonious spending plans of the outgoing Conservative Government, this was gradually turned into a modest budget surplus. But, the truth is that the Conservatives have created a huge national debt.Since the Tories came into power in 2010, the national debt has more than doubled. ... Keep our economy secure by running a surplus so that we start paying down our debts. The Conservatives have borrowed far more than Labour in monetary terms, however prior to the 2008 financial crisis all governments have reduced the national debt as a percentage of national income.

But, the truth is that the Conservatives have created a huge national debt. Labour also wants to increase taxes for corporations.On the other hand, the incumbents and pro-business Conservative Party has put forward a somewhat "modest" manifesto, according to the IFS. We are ambitious for our country and will be investing on the scale needed to end austerity, tackle climate change and build our county's future. This, combined with a continued trade deficit and bank stimulus packages has led to a sharp increase in the overall national debt. Austerity has proved to be a drag on the recovery, making it one of the slowest on record. This was recognised in Portugal.Back in 2010, Portugal stood on the brink of economic catastrophe: harsh austerity policies pushed by the conservative government lead to significant rises in poverty and unemployment.

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