• What We Stand For
  • Economy
    • Public Finances

Public Finances

We are still feeling the effects of what is now the longest recession in modern history. After years of boom and bust under the Conservatives we now have more of the same under Labour. Gordon Brown allowed the economy get out of control by building an economy on both public and private debt, his policies fuelled a housing bubble which has now burst, and millions of people are now paying the price for this with their jobs. 

Liberal Democrats believe that not only must we set a clear and honest path to restoring the health of the public finances, but we must also offer help to ordinary people now to help them get through the recession after its aftermath.

Liberal Democrats are committed to setting out the tough choices we are prepared to take so that we can balance the country’s books. We will identify lower priority spending that we believe can be cut so that we can protect vital front line public services, which so many people rely on. Beyond this though we believe that the money the Government continues to spend must be spent more effectively. By reallocating Government spending we will ensure that children regardless of their background receive the best possible education, that pensioners are given a fair deal and that radical action is taken to combat rising unemployment. 

As Liberal Democrats we will also rebalance the tax system by cutting taxes for people on low and middle incomes which we will pay for by cutting reliefs and closing tax loopholes that benefit the wealthiest.