Liberal Democrats Unveil Ambitious Manifesto with Focus on Tax Reform and Housing

The Liberal Democrats have revealed a bold and ambitious manifesto ahead of the upcoming elections, spearheaded by party leader Ed Davey. The manifesto, which outlines a fully-costed plan, places a significant emphasis on tax reforms and housing policies to give the British people a fair deal they deserve.

According to the manifesto released on Monday, the party aims to raise £27bn through a series of measures including capital gains tax reform, a banking profit surcharge, and a crackdown on tax avoidance and evasion. They have highlighted their commitment to managing public finances diligently, with all fiscal events supported by independent forecasts from the OBR.

One of the key proposals in the manifesto includes a plan to overhaul capital gains tax, with the party aiming to generate an additional £5.2bn annually through reforming the tax structure. This reform would involve adjustments to CGT rates based on income tiers and the introduction of an inflation allowance to prevent overtaxation due to inflation.

Further, the Liberal Democrats have put forth policies targeting the FTSE 100, proposing taxes on share buybacks and increases in taxes for oil and gas companies. Their ambitious housing targets call for the construction of 380,000 new homes annually, with an emphasis on social housing and eco-friendly standards.

The manifesto also lays out plans for a new industrial strategy focusing on key sectors like renewables, digital, and biosciences. Proposals include employee ownership schemes, public interest tests for large companies, and a windfall tax on oil and gas super-profits.

Leading players in various industries such as Berkeley, Persimmon, Taylor Wimpey, Vitol, Vitol Broking, and Glencore may be impacted by the proposed tax and regulatory changes outlined in the Liberal Democrat manifesto.