The Liberal Party welcomes the impending intervention in British Steel to secure the Scunthorpe steel works.
The party believes that any government intervention or public ownership should only last as long as is necessary to find a private sector bidder willing to invest in the business and secure jobs.
Domestic steel production offers security of supply in an era of disrupted world trade and reduces the environmental impact of transporting steel from around the globe.
Furthermore, steel quality control is key to UK construction safety and the Liberal Party demands the 7 recommendations within the 2022 UK steel procurement taskforce report to be fully implemented.
The continuation of the UK steel industry also depends on controlling China’s dumping of steel and subsiding their own steel producers at the expense of other global producers.
The recent history of the UK steel industry also highlights the dangers of letting foreign owners, most recently China, control an industry in which they have only a short-term business interest.
The Liberal Party notes with real concern the recent Spring Statement announced by the Chancellor.
The return to austerity via-a-vis public sector cuts (most notably cuts to welfare) the party deems as being completely and wholly unnecessary and thus a political choice borne out of incompetence.
The Chancellor announced on Wednesday, cuts to Welfare to the tune of £5 billion in order to bring down the Welfare budget and thus cut those people claiming benefits. However, the chancellor fails to realise that by shaving £5 billion off the welfare budget the chancellor is directly impacting those already on the margins of society.
Furthermore, the party notes that the prior budget in October and indeed the chancellors’ fiscal rules has inevitably lead to her having to return to austerity and thus cut public expenditure above and beyond what is necessary. She has essentially boxed herself in through own making!
The Liberal Party would have done a number of things differently in order to not only grow the economy but also reduce the number of those on welfare and thus increase the workforce.
Firstly, it would have reformed Welfare and indeed the tax system in order to increase the number of people in the workforce by simplifying the benefits system (only having three lots of welfare that people can claim). Moreover, it would have also increased the Personal Tax Threshold to at least £20K in order to ensure that work always pays.
Secondly, it would have reformed the tax system by simplifying it in order to ensure both transparency and fairness. A notable example would have been to get rid of the National Insurance hike on employers by scrapping National Insurance all together and thus merging it with Income Tax.
Thirdly, the party would have both levied as well as reformed certain taxes on those in society with the broadest shoulder who could have offered to pay so: Council Tax/Business Rates would have been replaced with a Land Value Tax, the Digital Services Tax would have been increased to 10%, the £4 billion bankers bonus tax would have been reinstated and finally, Income Tax and Capital Gains/Dividend Tax would have been equalised at the same rate.
Overall, the party notes that the statement was very disappointing with a real lack of long-term vision and indeed competency.
Kayed Al-Haddad
(The Liberal Party Economics spokesperson)
Previous Press Releases can be found here.
The Liberal Party is pleased to be fielding the following candidates at the elections to be held on the 1st May.
Runcorn and Helsby by-election
Danny Clarke will be representing the party at the by-election on the 1st May.
Having gained valuable experience in the August 2024 general election the party is pleased to be able to support his nomination in the constituency.
Devon
The Liberal Party is pleased to be able to welcome Cllr Andrew MacGregor to the party.
Previously sitting as an Independent on Teignbridge District Council, he will be contesting the Teignmouth seat for the Devon County Council elections.
Worcestershire
The Liberal Party is pleased to announce that Cllr Fran Oborski MBE and Cllr Shazu Miah have crossed to our party and will be contesting seats at May’s local elections for Worcestershire County Council.
Cornwall
Cllr Paul Holmes and Cllr Jean Pollock have both been re-elected to the Carn Brea and Illogan Parish Council’s, whilst Cllr. Jay Latham has been re-elected to the St Mawgan-in-Pydar Parish Council.
Lincolnshire County Council, City of Lincoln
Within the Lincoln City Division Cllr Charles Shaw will be contesting the Ermine and Cathedral Division and Tinashe Chipawe the Carholme Division.
We would appreciate offers of support for candidates in these areas.
Promoted by Stephen Graham on behalf of the Liberal Party, 12 Dayworth Mews, Lundy Lane, Reading, RG30 2RR.
