The Conservative manifesto is a blueprint for fake change. It is a depressing and dishonest con with a massive spending black hole at its centre, threatening an inevitable hike in VAT.

In the attached document, we detail where the Conservatives have failed to justify their promises, and why they should not be trusted with the keys to No. 10.

The five point plan will ensure the bonus system can never again encourage banks to behave in the way that led to the banking crisis.

Under the Liberal Democrats, excessive cash bonuses will come to an end, there will be no bonuses for board members and there will be no rewards for failure.

Liberal Democrat Leader Nick Clegg said:

Commenting on the Conservative attack on Labour for using an NHS hospital to launch their manifesto, Norman Lamb, said:

"This bizarre attack shows how little the Tories have to say about the big issues facing the country.

"This is a complete double standard. Only last week David Cameron was happy to go campaigning in Kingston hospital, but suddenly the Conservatives are saying it's unfair for parties to use the NHS in this way.

The Liberal Democrats today attacked Labour and the Conservatives for being stuck in a Cold War mentality when it comes to nuclear weapons policy.

As one of the most significant meetings of its kind since the 1940s takes place in Washington, Labour is reported to have dropped its plans to reduce the number of Trident-carrying submarines, while David Cameron has today defended the system on the basis of it potentially being needed against China.

Commenting on Labour's manifesto launch, Danny Alexander said:

"Every Labour manifesto since 1997 has been full of promises they have broken. They simply can't be trusted to do a single thing they say.

"The tax system is less fair than when Labour came to power.

"The only party that is committed to making Britain fairer is the Liberal Democrats."

Liberal Democrat Leader Nick Clegg will reveal further details of his party's manifesto pledge for a £17bn tax switch to help rebalance Labour's unfair tax system, putting £700 into the pockets of millions of people on low and middle incomes by raising the personal allowance to £10,000.

The income tax cuts will be paid for by closing loopholes that unfairly benefit those at the top, a crackdown on tax avoidance, a new mansion tax and higher aviation duties.

Woking Lib Dem Campaign Launch with Lord McNally.

Please note the change of venue.

The launch meeting will now be held at St Marks Church Hall, Westfield Road, Woking (entry off Bonsey Lane) and plenty of parking on site. 7.30 start. Monday 12 April.

Guests are Lord McNally, Lib Dem leader in the Lords and with a long history, through adviser to Harold Wilson, SDP and Liberal Democrats; and Neil Sherlock, previous resident of Woking and adviser to Paddy Ashdown, Menzies Campbell and now Nick Clegg.

Commenting on reports that Labour's election manifesto will include plans to restrict takeovers of British firms on public interest grounds, Vince Cable said:

"The Liberal Democrats have been proposing a public interest test for some time.

"It shouldn't be nationalistic. The issue is not whether there is a foreign bidder, it's about whether it's in the interests of the British economy.

Analysis of the Conservatives' proposed tax cuts or reversals shows that they will cost over £13.5bn a year in 2011-12 prices - yet just £100m has been specifically identified to fund them.

This leaves a £13.4bn black hole, equivalent to a 3% rise in the standard rate of VAT. This would mean an extra tax of £389 on the average household.

Commenting on Conservative plans for a National Citizen Service for 16- year-olds that would require billions in public funds, Danny Alexander, said:

"The Conservatives are living in cloud cuckoo land if they think they can provide a National Citizen Service on the cheap.

"Once again the Tories have made an enormous spending commitment without the foggiest idea of how they're going to pay for it.