The red line will ensure that any future coalition government involving the Liberal Democrats sticks to the economic path to recovery that the party has secured. They say it's only thanks to Liberal Democrats that the country has the stability to deal with the deficit and restore growth. Nick Clegg stressed that there will be no room for negotiation with any party threatening to risk this recovery.
Commenting Nick Clegg said: "The only certainty about this election is that neither Labour nor the Conservatives will win a majority. So making sure the next government is safe and stable is the first and biggest challenge. The Liberal Democrats have proved that we will do that. We will not let our government be dragged down by uncertainty and instability. We will be the guarantors of stability – just as we were in 2010."
Confirming for the Lib Dems this is a deal breaker, Nick Clegg said: "David Cameron, Ed Miliband - the Liberal Democrats won’t let you bluff your way through. We won’t let you risk our economic recovery. We will have a stability budget, to take place within 50 days of election day, a pre-condition of any coalition arrangement. There will be no deal if there is no stability. No coalition without coming clean with the British people. This too, is a red line."
Turning to what the Lib Dems are pledging to deliver, Nick Clegg said: "Let me tell you what will lie at the heart of it: A commitment to balance the books, in a timely fashion and in a fair way; and a clear commitment to our world class public services, including the money that our nurseries, schools and colleges need. We will add a heart to a Conservative Government and a brain to a Labour one."
"We will guarantee stability, decency and unity. Only the Liberal Democrats will cut less than the Conservatives and borrow less than Labour. And only the Liberal Democrats will put the national interest first and build a stronger economy and a fairer society." Nick Clegg added