text: Voters are still 'in the dark' about the scale and depth of spending cuts being planned by all the main parties with just two weeks until polling day, economic experts warned today. Analysts from the Institute for Fiscal Studies said none of the major parties had given 'anything like full details' on how they will tackle the nations' debts after the election. The Tories were accused of giving 'no detail' about their deficit reduction plan, which relies on £30billion of cuts, while Labour has left the door open to borrowing an extra £26billion-a-year. Scroll down for video . The Institute for Fiscal Studies analysed the policies of all the main parties to see how their policies would increase borrowing . The IFS warned that the promise of tackling the deficit in the next Parliament is based on 'almost entirely unspecified spending cuts and tax increases'. The think-tank reached its conclusions after a detailed study of the party manifestos ahead of May's General Election. It accused Tory Chancellor George Osborne and his Labour opponent Ed Balls of failing to spell out exactly where the axe will fall. IFS deputy director Carl Emmerson said: 'There are genuinely big differences between the main parties' fiscal plans. 'The electorate has a real choice, although it can at best see only the broad outlines of that choice. 'Conservative plans involve a significantly larger reduction in borrowing and debt than Labour plans. 'But they are predicated on substantial and almost entirely unspecified spending cuts and tax increases. 'While Labour has been considerably less clear about its overall fiscal ambition, its stated position appears to be consistent with little in the way of further spending cuts after this year.' Chancellor George Osborne and his Labour opponent Ed Balls are accused of not spelling out how they will tackle the deficit . George Osborne received a pre-election boost today as official figures showed he beat his target for reducing annual public sector borrowing for the latest financial year by nearly £3 billion. Borrowing - excluding the effect of bank bailouts - was £87.3 billion for the year to the end of March, down from £98.5 billion in 2013/14, according to the Office for National Statistics (ONS). The result undershot the latest target of £90.2 billion set by the independent Office for Budget Responsibility (OBR) at the time of last month's Budget. It means that annual borrowing (GDP) has fallen by more than £60 billion from £153.5 billion in 2009/10 just before the Coalition came to power. As a percentage of gross domestic product (GDP) it has dropped by half from 10.2 per cent to 4.8 per cent. However, underlying debt of £1.48 trillion is more than £500 billion higher than the 2009/10 figure of £956 billion. The nation's debt represents 80.4 per cent of GDP, up from 62 per cent five years ago. The IFS analysis said the Tories planned the largest reduction in borrowing over the course of the next Parliament. It said the party would require large spending cuts or tax increases to achieve this. Research economist Soumaya Keynes said: 'The Conservatives have said they want to eliminate the deficit but provided next to no detail on how they would do it. 'They should be forthcoming on the £5 billion of largely unspecified clampdown on tax avoidance, the £10 billion of unspecified cuts to social security spending and, according to our calculations, further real cuts to unprotected departments of around £30 billion.' Turning to Labour, the IFS said the Opposition had been 'considerably more vague' about how much it wants to borrow. The pledge to produce a surplus but without specifying by when or how much could be consistent with a reduction in borrowing totalling 3.6 per cent of national income. Senior research economist Rowena Crawford said: 'Labour's proposed measures might be broadly enough to meet their target for only borrowing to invest. 'But this would leave borrowing at £26billion a year in today's terms. 'If Labour wanted to reduce borrowing to a lower level than this they would have to spell out more detail of how they would get there.' The IFS said the Liberal Democrats had been more transparent about overall fiscal plans to 2017-18, revealing that they are aiming for a tightening more than Labour but less than the Conservatives. The SNP's figures imply the same reduction in borrowing as Labour, the IFS said, although the reduction would be slower. This means the SNP is proposing a slower but longer period of austerity, the think-tank said. The independent analysis came as the main parties clashed over the economy, with Labour accusing the Tories of planning the biggest spending cuts in any of the world's advanced economies and the Conservatives renewing warnings that Britain's economy would suffer from an 'SNP/Miliband nightmare'. Labour's Shadow Chancellor Ed Balls said: 'The IFS has confirmed that the Tories are committed to the most extreme spending plans of any political party, with bigger cuts than any other advanced economy in the next three years. 'The Tories might be able to make the cuts but the last five years show they will fail to cut the deficit as they claim. They have borrowed £200 billion more than they planned because their failure to boost living standards has led to tax revenues falling short.' But Mr Osborne today warned that every family in the country will be left £350 worse off if the SNP is left calling the shots in a Labour government. The Chancellor warned of a 'dangerous cocktail' if Ed Miliband is at the mercy of SNP leader Nicola Sturgeon. With polls showing no party will win an overall majority, Mr Osborne claimed it would spark a 'constitutional crisis' if Scottish nationalist MPs held the balance of power in the UK government. Launching the SNP manifesto this week, Ms Sturgeon named her price for supporting Labour in any post-election deal. She demanded her MPs have a say over the running of the whole of the UK, raising the prospect of Scottish nationalists calling the shots on policies which only apply south of the border. And she unveiled a £140billion 'ransom note' for Britain to drag Labour to the left, including an end to austerity, rising benefits payments and the abolition of Trident as the price Mr Miliband would have to pay for getting into Number 10. Mr Osborne seized on the demand for more spending and more borrowing and warned that Treasury analysis suggests it would add £6billion to Britain's interest bill, worth £350 per family. Mr Osborne told BBC Radio 4's Today programme: 'It's a new feature of this election that a Labour party cannot win an overall majority, so they would rely on this deeply unstable block of Scottish Nationalists. 'We've got a strong plan for a national recovery, but it's perfectly reasonable to point out with two weeks to go until this election the alternative is what Gordon Brown described last night as 'constitutional chaos'. 'The Scottish Nationalist leaders would clearly be the stronger force in a Labour minority government propped up by them.' Jonathan Isaby, chief executive of the TaxPayers' Alliance, said: 'The politicians seeking our votes owe it to taxpayers to come clean about what spending the country can, and cannot, afford. 'This candour has so far been noticeably absent in the election campaign, with politicians failing to acknowledge the dire state of the public finances and instead clambering over each other to make additional and apparently unfunded spending pledges.' CONSERVATIVES . LABOUR . LIB DEMS . UKIP . GREENS .
target: Institute for Fiscal Studies says no party has given 'anything like full detail'
  Labour has left the door open to borrowing an extra £26billion-a-year .
  Tories were accused of giving 'no detail' about £30billion of spending cuts .
  Boost for Osborne as he beats borrowing target by £3billion in last year .