As an analogy you can treat the British economy as a round cake. You could make it extremely fair if you cut it up into 60 million equal slices. Unfortunately it doesn't happen this way with some individuals taking a larger slice. This means the remainder have a smaller portion.
The Tories generally prefer this inequality and their policies reflect this by imposing less taxes on the rich. The Labour party have attempted to share the wealth..
Therefore your question about Tories cutting the deficit will mean those disadvantaged and the middle classes will contribute a higher percentage of their earnings than those at the top. They will try to pretend otherwise.