UK's finance minister Alistair Darling said on Sunday all the political parties would have to set out the bones of their spending review priorities before the next general election. He said he would need to come back to the pre-budget report, normally held in November, because we “are committed to the finances in this country being sustainable”. “When it comes to the pre-budget report, the budget next year, and of course the election, people will want to know, from all the political parties, ... ‘Where do you stand?'” he told the BBC's Andrew Marr show. He said budgets could not be settled in detail for the years to 2013 in times of such uncertainty, but said priorities would have to be set out. When asked whether voters would get at least the “bones” of Labour's spending review, that will allow them to make a decision, Darling said: “You have to set out those priorities. “Apart from anything else, the next election could see a government election until 2015. It will need a mandate for the hard things it has got to do as well as the things it wants to do to improve the country,” he said. The next general election must be held before next June. Darling also reiterated his belief that the economy, which is in its steepest slump since the 1930s, would return to growth at the turn of the year, with modest growth next year. “I think there's no doubt we are going through the deepest downturn/recession that we've seen in well in excess of 60 years,” he said. “I am confident that recovery will come. I have always said that I think the economy will start to grow at the turn of the year, and we will see modest growth next year.” Any future programme to put the public finances back on track would require looking at tax, he said. He confirmed the temporary cut in VAT sales tax from 17.5 percent to 15 percent would cease at the end of the year. “It definitely will,” he said. Darling is due to meet the country's major banks individually over the next week or two to discuss the shortage of business finance.
