Grant Shapps: Ed Balls is 'making up figures'

Labour has accused the Conservatives of planning "extreme" post-election public spending cuts of £70bn.

But Conservative chairman Grant Shapps said the independent Institute for Fiscal Studies put the size of the consolidation planned by the Tories at £30bn.

He said the party had already spelt out how it would deliver this through £12bn of welfare cuts, £13bn from reductions in departmental spending and £5bn from action to close tax loopholes.

Mr Shapps told the BBC that Ed Balls was "making this all up on the back of an envelope".