Possible UK kingmakers Liberal Democrats demand post-election stability budget

LONDON, April 28 (Reuters) - Britain's Liberal Democrats, possible kingmakers after a May 7 election, on Tuesday demanded a 'stability budget' within 50 days of the vote as a pre-condition of any coalition with either Conservative leader David Cameron or Labour's Ed Miliband.

With neither Cameron nor Miliband expected to win an outright majority, the Liberal Democrats are eyeing a second term as junior coalition partner, positioning themselves in the centre ground as a possible partner to either party.

Liberal Democrat leader Nick Clegg said instability stoked by unfunded election pledges from the Conservatives and vague fiscal targets from Labour would necessitate a post-election budget to decide how and when Britain's books would be balanced.

"It would be necessary in order to get off first base as a government after May 7, that we restore that fundamental stability and confidence in our macroeconomic plans as a country," Clegg told a news conference.

The budget would have to set out detailed tax and spending plans to balance the cyclically-adjusted current budget by 2017/18, Clegg said. (Reporting by William James; Editing by Andrew Osborn)