FUNDING A FAIR DEAL

The Liberal Democrat manifesto is a bold, ambitious and fully-costed plan to give the British people the fair deal they deserve. And we will pay for it fairly, too.

After years of Conservative chaos and neglect, there is no doubt that our NHS, social care, schools and other public services desperately need more investment. GPs are overstretched, hospitals are overcrowded and school buildings are crumbling.

At the same time, families and pensioners are struggling in the face of a cost-of-living crisis. The Conservatives have already put up their taxes by freezing income tax thresholds. It would be wrong to ask them to pay more to clear up the Conservatives’ mess.

That’s why we will fund our fair deal without raising income tax, national insurance contributions or VAT. Instead, we will focus on tax changes that make the system fairer – such as reversing the Conservatives’ tax cuts for the big banks and imposing a proper windfall tax on the super-profits of oil and gas companies.

Responsible public finances are essential for the stability, certainty and confidence that drive economic growth, and for getting mortgage rates under control. The Conservative Government has shown all too clearly the damage and pain caused by fiscal irresponsibility. Under our plans, we will get the national debt falling as a share of the economy and ensure that day-to-day spending does not exceed the amount raised in taxes.