Economy

 safe-box.png

The Liberal Democrats are now Britain’s only pro free-trade, pro-business, party. Just recently over 50 business leaders – a number of whom are also Chelsea and Fulham constituents – wrote to The Times to confirm this.

This Conservative government’s Hard Brexit is a disaster for the British economy as it means:

  • no longer having the economic might brought by being part the world’s largest trading block;
  • paying for years of negotiations with the EU (to renegotiate a deal that tries to come close to the one we already have);
  • businesses and skilled employees already announcing their departures.

These are just examples of why the current government announced an (optimistically low) Brexit contingency fund of £60bn.

 

In Coalition the Liberal Democrats showed they can run the British economy and pushed through a number of positive economic measures, for example:

  • Increased the income tax-free threshold from £6,475 to over £10,000: making going to work pay,
  • 15 hours of free childcare for over 3 year olds: making it easier, or cheaper, for parents to work or return to work
  • Stopped Brexit.

Looking ahead, the Liberal Democrat General Election manifesto pledges to:

  • Embrace new technology & start-ups with a Lib Dem “start-up allowance” to help budding entrepreneurs with living costs in the first six months of their new business,
  • Review business rates to reduce burdens on small firms and make them the priority for any future business tax cuts,
  • Aim in the long-term to raise the employee National Insurance tax-free threshold to the Income Tax-free threshold,
  • 15 hrs/week free childcare 2 year olds to make work pay and encourage & assist parents who want to return to work,
  • No mansion tax, but a fiscally responsible 1 penny per £ health and social care tax
  • Cap elderly social care contribution at £72,000: we don’t think it is fair that families – especially in London and the South-East -  should ‘face bills of at least two-thirds of the value of their home before the government steps in to help”[1]
  • Keep the pension ‘triple lock’

 

By contrast, the Conservative manifesto pledges:

  • To pull the UK out of the world’s largest single market – to which Britain sells nearly 50% of its exports
  • Immigration target in the ‘tens of thousands’ when business depends on foreign workers
  • Curbs on foreign takeovers of domestic companies
  • Proposals to curb executive pay
  • Crippling business rates
  • The only tax they promised not to raise is VAT
  • To remove caps on the amount the elderly pay for social care
  • To end the pension ‘triple lock’

 

Now, more than ever, we need a centrist, liberal, modern party in government. And British business agrees.



Sir Steve Webb, director of policy at Royal London, quoted in the Financial Times: www.ft.com

 louise_economy.png

 lrlibdempaper.jpg

connect

get updates

Liquid syntax error: Error in tag 'subpage' - No such page slug