IFS makes damning assessment of Tory and Labour manifestos

Neither party's general election manifesto sets out an honest set of choices, says leading thinktank

Neither of the two main parties "has set out an honest set of choices" to the public over their tax and spending plans, the Institute of Fiscal Studies has said.

In a critical assessment of the Conservative and Labour party manifestos, the thinktank said both parties presented a misleading picture of the impact their polices would have over the course of the next parliament. It warned that neither addressed the long-term challenges facing the UK.

Related: General election 2017: IFS says Tories offering five years of austerity and Labour's plans 'would not work' - politics live

Related: Schools face years of funding cuts if Tories win election, say thinktanks