Nick Clegg challenges David Cameron and Ed Miliband to come clean about their parties’ plans.
The Deputy Prime Minister, Nick Clegg today sets out our plans to balance the books on time, fairly and in full.
Nick has spell out – in unprecedented detail – how the we will get to grips with the £27bn deficit and protect public services.
The Liberal Democrats will eradicate the structural current budget deficit by 2017/18 through a mix welfare savings, spending reductions and tax measures aimed at the wealthiest.
Our plans involve £12bn in departmental savings, £3bn in welfare savings, £5bn in tax rises and £7bn in reduced tax avoidance.
Specific measures to balance the books unveiled today include:
- A new High Value Property Levy: on properties worth in excess of £2m – raising £1bn
- Corporation Tax: limiting of interest deductibility – raising £800m
- Corporation Tax: restriction of loss relief – raising £650m
- Non Domiciled residents: increase in charges – raising £135m
- Universal Credit: Transition measure on capital allowances, protections and 30 hr rule – £420m
When we entered government the Labour party left us a note saying ‘there’s no money left’.
Five years on, things are looking up and the Liberal Democrats have ensured this was done in a fair and balanced way. But there is more to do to finish the job.
If things are to keep improving, we'll need Lib Dems around the Cabinet Table anchoring Government to the centre ground.
Left alone, the Conservatives will crush the vulnerable with cuts for the sake of it, just like their unapologetic colleagues have done with Children’s Services locally, but on a national scale; Labour would return to borrowing. By voting Tessa, you’ll protect essential services and hold Labour accountable for every pound.
And you’ll keep your full-time, 'in touch' MP defending and speaking up for you, your family and Somerset again.
12th April 2014