Here is a rundown of where the main parties stand on the key economic issues.
SPENDING CUTS AND TACKLING THE DEFICIT
:: Labour: The party has said it will save £3 billion by capping public sector pay rises at 1% in the next few years, and will also make reforms to public sector pensions.
It plans to reduce the benefit bill by £1.5 billion in the next four years by using a work capability test to help more people with disabilities or health problems get a job.
In its manifesto, Labour has pledged to halve the deficit by 2014, while avoiding immediate spending cuts which could damage economic recovery.
:: Conservatives: The Tories say they would eliminate the "bulk" of the £163 billion deficit by 2014, by bringing in cuts immediately and holding an emergency budget within 50 days of taking office.
Public sector pay would be frozen for one year in 2011-12, and ministers' pay would be cut by 5%, followed by a five-year pay freeze.
The number of MPs would be reduced by 10% and public sector pensions above £50,000 would be capped.
:: Liberal Democrats: They say they will at least halve the hole in Britain's finances by 2014, but would wait until 2011-12 to reduce public spending for fear of jeopardising economic recovery.
A £400 pay rise cap would be brought in for all public sector workers, initially for two years.
The size of the Department of Health would be cut by half and unnecessary quangos abolished.
The number of MPs would be reduced by 150, and the House of Lords replaced by an elected chamber with "considerably fewer members".
BANKS
:: Labour: Gordon Brown insisted he was the man to bring "morality" to financial markets and that there would have to be "structural change" to curb bonuses.
If Labour are elected they would realise stakes in publicly controlled banks and give the Financial Services Authority the power to quash contracts for bankers which "incentivise reckless risk-taking".
Banks would be required to draw up living wills to limit the damage if they fail, and pay an international levy on financial services to recoup the support given by the taxpayer.
:: Conservatives: They would also introduce a levy on banks to regain the massive bailouts given to failing banks, however the Tories say they are prepared to act without international support if necessary.
The party plans to reform the regulation and structure of the banking system by scrapping the FSA and giving powers to the Bank of England, including the authority to crack down on bonuses.
Britons would be given a chance to buy into part-nationalised Royal Bank of Scotland and Lloyds Banking Group when the Government-owned holdings are offloaded.
:: Liberal Democrats: They would bring in a banking levy so that taxpayer support is repaid, until the banks can be split up to protect retail banking from investment risks.
Bonus payouts would be capped at £2,500, and anything above that figure would have to be paid in shares which could only be cashed in after five years.
Loss-making banks would be barred from paying bonuses, and there would be no payouts for board directors.
The Liberal Democrats also want to publish the names of all bank staff with salaries bigger than the Prime Minister - just under £200,000 - as well as fining directors of banks who break pay policies.
Nationalised Northern Rock would be made into a building society.
TAX
:: Labour: National Insurance contributions would rise by 1% for employers and employees from next April. The party has committed not to increase basic, higher and top rates of income tax in the next Parliament, or extend VAT on food, children's clothes, books, newspapers and public transport fares.
There would be a two-year stamp duty holiday for first-time buyers on all properties below £250,000, funded by a permanent 5% rate on homes worth more than £1 million.
:: Conservatives: National Insurance increases for anyone earning less than £35,000 would be stopped, by cutting an extra £6 billion of "waste" in the current financial year - including not filling thousands of public sector jobs when they become vacant.
The stamp duty threshold would be permanently raised to £250,000 for first-time buyers.
The inheritance tax threshold would be lifted to £1 million, funded with a flat-rate levy on all those with non-domiciled status.
Adults who are basic rate taxpayers and married or in a civil partnership will be allowed to transfer up to £750 of their tax-free personal allowance to their spouse.
:: Liberal Democrats: The tax-free personal allowance would be raised to £10,000, funded by a "mansion tax" of 1% on properties worth more than £2 million, applicable to the value of the property above that figure.
National Insurance rises would be kept because of the "huge" national deficit, but would be reversed "when resources allow".
BOOSTING ECONOMIC RECOVERY
:: Labour: The party would create UK Finance for Growth, bringing £4 billion together to provide capital for growing businesses.
Up to 70,000 advanced apprenticeships a year would be funded along with Skills Accounts for workers to upgrade their skills.
One million skilled jobs would be created and infrastructure would be modernised with high-speed rail, a green investment bank and broadband access for all.
:: Conservatives: Small businesses would be boosted with automatic rate relief, while the headline rate of corporation tax would be cut to 25p and the small companies' rate to 20p.
The party has pledged to create the conditions for higher exports, business investment and savings, while cutting youth unemployment.
A Work Programme would be introduced for all unemployed people, along with 400,000 apprenticeship, work-pairing, college and training places over two years.
It would also be made easier to set up a business.
:: Liberal Democrats: A work placement scheme would be created for 800,000 unemployed young people to gain qualifications and work experience.
The party would also fund 15,000 extra foundation degree places and increase the adult learning grant to £45 a week for 18 to 24-year-olds in further education.
A "green stimulus plan" would create 100,000 jobs, including investing up to £400 million in refurbishing shipyards in the North of England and Scotland so they could manufacture offshore wind turbines and other marine renewable energy equipment.
© 2012 The Press Association Limited
