Progress has been made in talks between the Liberal Democrat Party and the Conservative Party, but there's no deal yet, a Lib Dem spokesman said on Monday.

Simon Hughes, a member of Lib Dem negotiating team, said that deal is expected by end of week but not necessarily by end of day.

Lib Dem education spokesman David Laws said his party's members of parliament (MPs) have asked for clarification on some details, such as education funding, fair taxes and voting system.

The parliamentary party had agreed that cutting the deficit must be at the heart of any deal and that there must be "strong and stable government."

Lib Dem MPs also agreed that party leader Nick Clegg should listen further to the representations made by the Labour Party.