Liberal Democrat manifesto: a reaction
In a statement released by Paul Johnson, who holds the position of Director of the Institute for Fiscal Studies (IFS), it was disclosed that...
The Liberal Democrats aim to maintain the current size of the government by increasing spending plans with the use of tax hikes. These taxes will primarily target banks, energy companies, and tech giants, but they will still have an impact on consumers. The party projects that these measures will raise £27 billion a year, but that prediction may not be accurate. Additionally, some of the proposed tax increases, such as the taxing of share buybacks, may have negative economic effects. It is crucial to consider the long-term consequences before implementing these measures.
It's a big deal to add an extra £27 billion to everyday expenses for the public, but most of that money will be spent on healthcare, education, and defense. They're also planning on increasing the budget for social security by removing the two-child limit on benefits and providing more for carers. However, other departments like prisons, courts, and local government won't be receiving any additional funds, meaning they'll have to keep making cuts to already struggling services.
Apart from the notable step of introducing free personal care in England, the Liberal Democrats have included a lengthy list of minor proposals to be implemented by the government. These small add-ons might prove to be an obstacle in resolving the major issues that come with financing our primary public services.
