Nick Clegg has dismissed reports from a leading think tank that the spending cuts will hit the poorest the hardest.

The Institute for Fiscal Studies (IFS) said on Thursday that the cuts would actually hit the bottom half of the earners hardest and not the top tax players – as the coalition government had claimed.

Clegg responded today and stated that the report from the IFS was “complete nonsense” and that the Treasury had tried to provide more than a snapshot of tax and benefits.

The IFS said that the biggest losers from the cuts would be families with children due to the reduction in welfare. However Clegg suggested that they did not take into account such factors as public spending inputs that include children and social care.

Clegg said: “We just fundamentally disagree with the IFS. It is complete nonsense to apply that measure. The richest are paying the most.”

Clegg also acknowledged the fact that it was a hard decision to raise tuition fees as the Liberal Democrats had actively opposed such a move throughout the election.

Clegg added: “It quite understandably raises questions about promises politicians make. I signed a pledge that I have not been able to honour.”