The Conservatives have warned of tax rises after the next election to pay for a shortfall of £10 billion in the government's finances.

Shadow chancellor Oliver Letwin said the gap between income and expenditure would be £21 billion - some £10 billion higher than the Treasury's own forecasts.

He added that fears of third term tax rises was an "extremely vulnerable flank" for Labour.

Meanwhile, a poll of top economists by the Taxpayers' Alliance, found that the majority was convinced that taxes would rise after the election because of a huge budget deficit.

Matthew Elliott, the Alliance's chief executive, said there was a "huge black hole" in the public finances.

The survey comes as the Mail reports that constitutional affairs secretary has negotiated an exclusion for judges from a cap on tax free pensions funds.