FACTBOX-UK LibDems 2010 election manifesto

April 14 (BestGrowthStock) – Britain’s Liberal Democrats on
Wednesday set out the policies which would form the basis of
negotiations if the country’s third-biggest political party
holds the balance of power after an inconclusive election.

Below are highlights from the LibDems 2010 manifesto:


– The party has identified 15 billion pounds of savings in
government spending per year. A third will be set aside for
additional spending commitments, but 10 billion pounds each
year, after 2011/12, will go towards paying off the deficit, set
to be 163 billion pounds this financial year.

– Cuts would come through a cap on public sector pay rises,
restricting tax credits, ending government payments into child
trust funds, a 2 billion pound bank levy, scrapping ID cards and
cancelling part of an order for the Eurofighter warplanes.

– Banks would be broken up, creating a clear separation
between low-risk retail banking and high-risk investment
banking. Bank bonuses would also be curbed.

– A budget of 3.1 billion pounds used as part of a green
economic stimulus package.

– Restore a public interest test for company takeovers.

– Reject a new generation of nuclear power stations.

– Set a target for 40 percent of electricity to come from
clean, non-carbon-emitting sources by 2020, rising to 100
percent by 2050.


– No plan to increase VAT.

– A “fairer” tax system, with a 10,000 income tax threshold,
paid for through a clamp down on tax avoidance, closing tax
loopholes for the wealthy, introducing a 1 percent so-called
mansion tax on homes worth more than 2 million pounds and an
increase in aviation duties.

Also tax relief on pensions would only be at the basic rate,
and taxing capital gains at the same rate as income.


– Introduce a proportional voting system for lawmakers, and
reduce their number by 150.

– Lower the voting age to 16.

– Have fixed-term parliaments for the lower chamber, and
replace the upper chamber with a fully elected house.

– Give voters the right to sack their lawmaker if they have
broken the rules.


– Invest 2.5 billion pounds to boost education opportunities
for disadvantaged children, and cut class sizes.

– Scrap university fees, and the 50 percent target of young
people attending university.

– To see the latest Reuters stories on the UK election,
click on [ID:nUKVOTES]

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(Writing by Avril Ormsby; Editing by Jon Boyle)

FACTBOX-UK LibDems 2010 election manifesto