IFS: no magic money tree for politicians to shake

Being upfront with voters about social security cuts that would be necessary to finance tax cuts is not seen as an election-winning strategy

Be afraid. Be very afraid. That was the message from the Institute for Fiscal Studies as it dissected the tax and benefit proposals of what are for now the three main Westminster parties.

The IFS said the Conservatives, Labour and the Liberal Democrats were as one in trying to hoodwink voters. Despite what is being said on the campaign trail, there is no magic money tree for the politicians to shake. Promises now will be followed by hard choices later.

Related: Election 2015: taxpayers worse off under every party, experts say

Related: Do the parties' sums add up? How the IFS became the ultimate arbiter