NewsPoliticsDeputy leader Ed Davey laid out the Lib Dem economic policy during a speech in Leeds
Friday, 15th November 2019, 10:14 pm
The government should run a permanent spending surplus, the Liberal Democrats have said in a bid to position themselves as the toughest party on public finances.
Laying out the party's economic pitch in a speech in Leeds, deputy leader Ed Davey insisted the Conservatives and Labour were offering "fantasies" which would wreck the public finances.
The i politics newsletter cut through the noise
And he claimed the Lib Dems are now the leading pro-business party as he pledged to crack down on US tech giants to help British start-ups challenge larger firms in future.
Sir Ed said that if they got into government, the Lib Dems would run a 1 per cent surplus on current spending - meaning that day-to-day costs of public services would be lower than the amount raised in taxes. He claimed a "Remain bonus" would help shore up state finances.
Borrowing limit
Borrowing would only be allowed to pay for capital investment projects judged by an independent watchdog to generate more money for the taxpayer than their initial cost.
The fiscal rule is stricter than that proposed by the Conservatives, which would see current spending balancing taxation within three years. Labour also want a balanced budget but say it would take five years to reach. Sir Ed told activists: "Just look at the contrast with the other two parties. The spending competition between the Brexit parties, the Labour and Conservative fantasists, has made Santa Claus seem like Scrooge."
The Lib Dem plans are in some ways stricter than the fiscal rules introduced by George Osborne when he was Chancellor - raising the prospect of a swift return to austerity.
Sir Ed said the party would raise spending, for example on childcare, but would balance it out by a rise in corporation taxes and capital gains tax. He added: "You can still meet fiscal rules and be economically responsible, and make important environmental, social and economic investments. You just have to be honest about where the money's coming from. So on the revenue side we've talked about a Remain bonus, but we've also talked about modest tax rises."
Receive more election analysis from me every weekday lunchtime by signing up to the i on politics newsletter here
The Lib Dems are calling for tougher new rules on competition which could see company bosses jailed if they breach antitrust laws - claiming this would help start-ups from the UK to challenge the entrenched champions. Sir Ed told i: "These big corporates, particularly from the USA, are just taking us to the cleaners. The Tories are going to be soft on big business and give the tech giants a free pass." He dismissed Labour's call for a nationalised broadband service as "just mad economics".
The Lib Dems face continued questions over what they would do in the event of a hung parliament, when the party could hold the balance of power. They said they could work with a minority government led by Boris Johnson or Jeremy Corbyn on an "issue by issue" but ruled out a formal coalition or confidence and supply pact.
See the rest here:
- Paul Krugman - The Conscience of a Liberal - December 11th, 2016 [December 11th, 2016]
- Liberal Democrat Voice - December 11th, 2016 [December 11th, 2016]
- Urban Dictionary : liberal - December 12th, 2016 [December 12th, 2016]
- READ MORE : Liberal groups want delay of Sessions' hearing - January 5th, 2017 [January 5th, 2017]
- What Is a Liberal - What Is Liberal Bias - January 9th, 2017 [January 9th, 2017]
- Liberal Party of Australia - Wikipedia - February 1st, 2017 [February 1st, 2017]
- Conservatives reject liberal humor in Trump era: Dave Berg - USA TODAY - February 7th, 2017 [February 7th, 2017]
- Liberal Judicial Activism Borders On Insurrection - Daily Caller - February 7th, 2017 [February 7th, 2017]
- Liberal Fake News Reportedly Growing - Yahoo News - February 7th, 2017 [February 7th, 2017]
- House Science Chairman Sees Liberal Cover-Up on Warming Pause - Scientific American - February 7th, 2017 [February 7th, 2017]
- Furious Liberal MPs turn on 'rat' Cory Bernardi - The Australian Financial Review - February 7th, 2017 [February 7th, 2017]
- 'Rallying point': Abbott to headline conservative Liberal fundraiser in Melbourne - The Age - February 7th, 2017 [February 7th, 2017]
- I'm A Liberal, And I Want Milo Yiannopoulos On My Campus - Huffington Post - February 7th, 2017 [February 7th, 2017]
- Cory Bernardi says he resents being used in Liberal party 'proxy war' - The Guardian - February 7th, 2017 [February 7th, 2017]
- HuffPo's New Editor In Chief Is Already Undoing Arianna's Liberal Legacy - Daily Caller - February 7th, 2017 [February 7th, 2017]
- Why Are Liberals Surprised by the Senate Confirmation of DeVos? - National Review - February 7th, 2017 [February 7th, 2017]
- Liberal Hashtag #NotMySuperBowlChamps Protests Patriots' Support of Trump - Fox News Insider - February 7th, 2017 [February 7th, 2017]
- All liberals are hypocrites. I know because I am one - Quartz - February 7th, 2017 [February 7th, 2017]
- '9th Circus'? Scholars Say Court's Liberal Rep Is Overblown - ABC News - February 7th, 2017 [February 7th, 2017]
- Economic freedom - Wikipedia - February 8th, 2017 [February 8th, 2017]
- Liberal land - Richfield Reaper - February 9th, 2017 [February 9th, 2017]
- Liberal groups file lawsuit to block Trump's deregulation order - Washington Examiner - February 9th, 2017 [February 9th, 2017]
- Strategies for Saving the Liberal Arts - Inside Higher Ed (blog) - February 9th, 2017 [February 9th, 2017]
- This day in Liberal Judicial ActivismFebruary 9 - National Review - February 9th, 2017 [February 9th, 2017]
- The Marco Rubio knockdown of Elizabeth Warren no liberal media outlet will cover - Conservative Review - February 9th, 2017 [February 9th, 2017]
- Wisconsin Gov. Scott Walker proposes surprisingly liberal budget - Chicago Tribune - February 9th, 2017 [February 9th, 2017]
- Why the liberal world order is worth saving - Irish Times - February 9th, 2017 [February 9th, 2017]
- Tim Scott reads racist tweets by 'liberal left' over support for Jeff Sessions - Washington Times - February 9th, 2017 [February 9th, 2017]
- Five tips on having a safe conversation with your liberal spouse or conservative brother - Fox News - February 10th, 2017 [February 10th, 2017]
- Why Liberal Policies Are Terrible For Young People - Power Line (blog) - February 10th, 2017 [February 10th, 2017]
- Trevor Bauer goes on long rant defending tweet about liberal bias - Yahoo Sports - February 10th, 2017 [February 10th, 2017]
- Liberal Tolerance: Sen. Tim Scott Reads His Hate Mail On Senate Floor For Supporting Sessions As AG - Townhall - February 10th, 2017 [February 10th, 2017]
- Claws Out For Ivanka Trump Show Liberal Love For Women Is A Sham - The Federalist - February 10th, 2017 [February 10th, 2017]
- Trump Takes a Running Whack at the Liberal Interventionists - The Nation. - February 10th, 2017 [February 10th, 2017]
- Networks Swoon Over GOP 'Feeling the Wrath' of Liberal Town Hall Protesters - NewsBusters (blog) - February 11th, 2017 [February 11th, 2017]
- Liberals, don't fall into the right's 'identity politics' trap - The Guardian - February 11th, 2017 [February 11th, 2017]
- Liberal pledge: Revamp for 69 outdated schools in $560 million spend - Perth Now - February 11th, 2017 [February 11th, 2017]
- Indians swept by Liberal in WAC action - Hays Daily News - February 11th, 2017 [February 11th, 2017]
- Trump's attacks on the press and how the liberal media myth has empowered him - Salon - February 11th, 2017 [February 11th, 2017]
- The Paranoid Style of Anti-Trump Politics - National Review - February 12th, 2017 [February 12th, 2017]
- What the Liberal-One Nation preference deal could mean at the ballot box - ABC Online - February 12th, 2017 [February 12th, 2017]
- Finley: Left bites Ivanka's liberal hand - The Detroit News - February 12th, 2017 [February 12th, 2017]
- A new, liberal tea party is forming. Can it last without turning against Democrats? - Washington Post - February 12th, 2017 [February 12th, 2017]
- Since When Is Being a Woman a Liberal Cause? - The New York ... - New York Times - February 12th, 2017 [February 12th, 2017]
- This liberal Brooklynite is on the hunt for conservative friends - New York Post - February 12th, 2017 [February 12th, 2017]
- Small-l liberal voters have been abandoned in the race to the right - The Sydney Morning Herald - February 12th, 2017 [February 12th, 2017]
- Rich, Liberal Celebrities Lecture and Claim to Stand for 'We the People' at the 2017 Grammys - NewsBusters (blog) - February 13th, 2017 [February 13th, 2017]
- WA One Nation candidates refuse to preference Liberals - ABC Online - February 13th, 2017 [February 13th, 2017]
- India's liberal bubble has shrunk to irrelevance in the age of Narendra Modi - Quartz - February 13th, 2017 [February 13th, 2017]
- Liberal superhero Justin Trudeau is not immune to the forces of Trump - CNN - February 13th, 2017 [February 13th, 2017]
- A new satire must emerge one that breaks out of the liberal bubble - The Guardian - February 13th, 2017 [February 13th, 2017]
- A liberal Tea Party, the pope helps spring a terrorist and other notable commentary - New York Post - February 13th, 2017 [February 13th, 2017]
- At Ole Miss, a Liberal Agitator's Education - New York Times - February 13th, 2017 [February 13th, 2017]
- Liberal Frenzy: 'Impeach' Trump; 'Traitor! Resign by Morning' - CNSNews.com - February 14th, 2017 [February 14th, 2017]
- Chelsea Clinton future run for political shunned by liberal activists ... - Washington Times - February 14th, 2017 [February 14th, 2017]
- One Nation could gain more than the Liberals from Western Australia seats deal - The Guardian - February 14th, 2017 [February 14th, 2017]
- Conservatives: Walker's budget plan is anything but 'liberal' - Watchdog.org - February 15th, 2017 [February 15th, 2017]
- Trump Says Liberal Media 'Going Crazy With Blind Hatred' - Daily Caller - February 15th, 2017 [February 15th, 2017]
- I'm a bleeding-heart liberal cleric but the Church of England must not accept gay marriage - Telegraph.co.uk - February 15th, 2017 [February 15th, 2017]
- What's a Liberal to Do When His Spouse Is a Trump Zealot? - New York Times - February 15th, 2017 [February 15th, 2017]
- Liberal Activists Join Forces Against a Common Foe: Trump - New York Times - February 15th, 2017 [February 15th, 2017]
- John Howard backs Liberal preference deal with One Nation in WA - The Guardian - February 16th, 2017 [February 16th, 2017]
- Liberal ex-MP who called party a 'gay club' likely to be kicked out - The Australian Financial Review - February 16th, 2017 [February 16th, 2017]
- New Liberal PAC Targets Democrats for Primaries - NBCNews.com - February 16th, 2017 [February 16th, 2017]
- 'Liberals will continue to lose': Bill Maher defends Milo Yiannopoulos booking after panelist boycotts - Washington Post - February 16th, 2017 [February 16th, 2017]
- Whatever happened to liberal Democrats, anyway? - Chicago Tribune - Chicago Tribune - February 16th, 2017 [February 16th, 2017]
- Sportswriting Has Become a Liberal Profession Here's How It Happened - The Ringer (blog) - February 16th, 2017 [February 16th, 2017]
- If the Church of England continues to smother liberal Anglicans, it is heading for a split - Telegraph.co.uk - February 16th, 2017 [February 16th, 2017]
- Major liberal group opposes Gorsuch confirmation - USA TODAY - February 16th, 2017 [February 16th, 2017]
- The True Origins of the Phrase 'Bleeding-Heart Liberal' - Atlas Obscura - February 17th, 2017 [February 17th, 2017]
- Liberals, Tories spar over Islamophobia motion in full-day debate - The Globe and Mail - February 17th, 2017 [February 17th, 2017]
- Where Have All the Liberal Democrats Gone? - Townhall - February 17th, 2017 [February 17th, 2017]
- Vicious attacks on Ivanka Trump exposes liberal hypocrisy - The Hill (blog) - February 17th, 2017 [February 17th, 2017]
- Can Emmanuel Macron win? Why France is ripe for a liberal resurgence - New Statesman - February 17th, 2017 [February 17th, 2017]
- Victorian Liberals: factional fight exposes deep divisions - The Age - February 17th, 2017 [February 17th, 2017]
- 10 Unfortunate Liberal Myths Conservatives Often Believe - Observer - February 17th, 2017 [February 17th, 2017]
- Terri Lovell: Liberal oppression - Santa Clarita Valley Signal - February 17th, 2017 [February 17th, 2017]
- Where's the liberal outrage over civil liberties in the Flynn case? - Minneapolis Star Tribune - February 18th, 2017 [February 18th, 2017]
- Liberal, conservative Jews in US increasingly divided over Trump - Chicago Tribune - February 18th, 2017 [February 18th, 2017]
- Anti-Islamophobia debate might define both Liberals and Conservatives - CBC.ca - February 18th, 2017 [February 18th, 2017]