The Lib Dem leader said spending £5bn on free social care would save £3bn by speeding up discharges from hospitals.

Sir Ed Davey told the BBC’s Helen Catt the rest would be funded by a windfall tax on oil and gas firms, and reversing a tax cut for banks, which would be set out in a “fully-costed manifesto”.

Lib Dems drop pledge to raise income tax by 1p