DEFICIT REDUCTION

* A “significantly accelerated reduction” in this parliament - mainly through reduced spending, rather than higher taxes.

* An “emergency budget” within 50 days.

* “Modest cuts” of £6bn in 2010-11, to “non-front line services”.

* Reductions to the Child Trust Fund and tax credits for higher earners.

SPENDING REVIEW

* Funding for the NHS should increase in real terms in each year of the parliament.

* A “significant premium” for disadvantaged pupils from outside the schools budget, funded by cuts elsewhere.

* Renewal of Trident should be scrutinised to ensure value for money.

* Restore the earnings link for the basic state pension from April 2011, or increase by 2.5% if greater amount.

TAX MEASURES

* A “substantial increase” in the income tax personal allowance from April 2011, with a “longer term” objective to raise it to £10,000.

* This will “take priority over other tax cuts”, including cuts to inheritance tax.

* Liberal Democrat MPs to abstain on introducing transferable tax allowances for married couples.

* Replace air passenger duty with a ‘per flight’ duty.

BANKING REFORM

* A banking levy will be introduced

* “Robust action” to tackle unacceptable bonuses in the financial services sector.

* Independent commission to investigate separating retail and investment banking - to report in one year.

IMMIGRATION

* An annual limit on the number of non-EU economic migrants admitted into the UK.

* End the detention of children for immigration purposes.