NICK Clegg will warn industry leaders that a return to single-party government will jeopardise the country's recovery and send business profits plummeting.

The Deputy Prime Minister will tell the Confederation of British Industry (CBI) in London the threat they face "is very real and very big" and warn those hoping to end coalition at the general election to "be careful what they wish for".

Labour has failed to learn lessons about fiscal responsibility and the Conservatives will sever ties with Europe "if allowed", he will claim.

In a speech to the CBI conference, Mr Clegg is expected to say: "Anyone who hopes for single-party government after the next election should be careful what they wish for.

"A Labour Party that has not learnt a single lesson about fiscal responsibility... a Conservative Party that, if allowed, will sever our ties with the EU. Either outcome will jeopardise the recovery."