London: The Economist magazine, which endorsed Labour at the last election, is backing David Cameron to win the May 06 election.
According to a Sky News report, The Economist says it is supporting the Conservatives because it is concerned about the size of the state in Britain.
The magazine`s leading article says: "The Economist has no ancestral fealty to any party, but an enduring prejudice in favour of liberalism. In this British election the overwhelming necessity of reforming the public sector stands out.”
"It is not just that the budget deficit is a terrifying 11.6 percent of GDP, a figure that makes tax rises and spending cuts inevitable. Government now accounts for over half the economy, rising to 70 percent in Northern Ireland,” it further says.
"For Britain to thrive, this liberty-destroying leviathan has to be tackled. The Conservatives, for all their shortcomings, are keenest to do that; and that is the main reason why we would cast out vote for them," it adds.
The Economist also says the Prime Minister has run a "grim campaign, scarcely bothering to defend his record and concentrating instead on scaring people about the Tories` plans."
"But it is better for the country that Labour has its looming nervous breakdown in opposition."
It concludes: "A change of government is essential."