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last yr.

Lib Dems Propose Biden-Style Tax on Share Buybacks

At their spring conference, the Liberal Democrats unveiled a plan to impose a 4% tax on share buybacks by large companies, aiming to raise £2 billion for public services and green investment.

Overview

  • Liberal Democrat Treasury spokesperson Sarah Olney announced a proposal for a 4% tax on share buybacks by FTSE 100 companies, inspired by Joe Biden's policy in the US.
  • The tax aims to raise £2 billion annually, which the party plans to invest in public services and green industries.
  • Critics argue that share buybacks inflate share prices at the expense of productive investment, an issue the Lib Dems aim to address with the new tax.
  • The proposal is part of the Lib Dems' effort to prepare for the general election, targeting traditional Conservative strongholds.
  • Lib Dem leaders criticize the current government for raising taxes during a cost-of-living crisis in an unfair manner, and call for bold action to encourage investment and economic growth.