The seven party leaders are going up against each other for the first and only time in the General Election campaign.
It is also the only time David Cameron and Ed Miliband - the two men who could be Prime Minister in May - will debate each other.
Three women - Natalie Bennett for the Greens, Nicola Sturgeon for SNP and Leanne Wood for Plaid Cymru - have taken to the stage for the first time in a televised leaders debates.
They are joined by the Lib Dem leader Nick Clegg and UKIP's Nigel Farage for the two-hour live debate before a 200-strong studio audience in Salford.
Opening the debate Ms Bennett told the audience the Green Party was determined to "deliver a fair economy" that did not make society pay for the "fraud" carried out by bankers.
She accused the other parties of "trading in fear" - fear of immigrants and those on benefits.
Going second Mr Farage set to distance himself from the other parties by saying they were "all the same" and all supported the European Union.
He rounded on "open door immigration" saying it made it impossible to get a GP appointment and housing and the UK needed to "take back control of its borders".
Mr Clegg was quick to admit he had made mistakes during his time in the coalition but he said he had learned from them and said he would "always act fairly". And he said he would protect schools and hospitals from cuts.
He was followed by Ms Sturgeon who vowed to "make Scotland's voice heard". She said she would not pretend she didn't want Scotland to be independent but added she would work with Westminster to get the best for everybody.
Mr Cameron trumpeted the Government's success in turning around the economy and said he had cut takes for 30 million people.
His comments were primarily aimed at Mr Miliband as he said there was a stark choice between a long-term plan that was working and chaos.
Ms Wood said her party could win for Wales in a hung parliament and offered Plaid Cymru as the alternative vote and to give Wales a voice in Westminster.
Rounding off the opening statements Mr Miliband promised raise the minimum wage to £8 and hour and rescue the NHS - he also pledged to cut the deficit and balance the books.
