40 New Hospitals – The Government’s Broken Promise
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The number of children persistently absent from school has doubled, with around one in five young people now missing 10% or more of their lessons. And rates of persistent absence are even higher among disadvantaged backgrounds, children with mental health conditions, and those with special education needs. This is not a problem that can be ignored or swept under the rug.
This alarming trend not only impacts their immediate education but also has far-reaching implications for their future opportunities and life chances.
The Conservatives have consistently let down children and parents, neglected schools and colleges, and failed to grasp the scale of the pandemic’s damage to children’s learning and mental health.
Liberal Democrats understand that education is the best investment we can make in our country’s future. The reasons for absence are complex but we must make getting children back in the classroom a priority.
That’s why, today, Liberal Democrats have passed new policy to encourage school attendance and support children who are struggling:
Making school somewhere children want to be: A new commitment to sports, music, drama, and art will make school a place that pupils want to go, fostering a positive and engaging learning environment.
Every child can achieve great things. By investing in education, supporting families, and prioritising mental health and wellbeing, we can ensure that every child has the opportunity to thrive and reach their full potential.
Let us commit to building a future where every child feels safe, supported, and valued in our schools.
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Untreated sewage is pouring into UK waters more than 1,000 times a day. Between 2020 and 2022, England’s water companies used storm overflows over a million times, totalling a shocking 7.5 million hours. Millions of litres of water are lost to leaks each day. Just 3 in 20 of England’s rivers are in a ‘good’ ecological state.
Since the Conservatives privatised English water companies, those companies have piled on £54 billion in debt and handed out £66 billion in dividends to shareholders. All while failing to properly invest in the infrastructure we need.
And they’ve been allowed to get away with it – by a toothless regulator and a Conservative government that doesn’t seem interested in making polluters pay. The Environment Agency, severely underfunded, has struggled to enforce the law effectively.
The status quo is simply not working, and it’s time for a new approach.
That’s why today, Liberal Democrats have passed new policy to address this national scandal. Our plan is comprehensive and ambitious, aimed at transforming our waterways, protecting our environment, and holding water companies accountable for their actions.
Liberal Democrats are leading the charge to clean up our rivers, lakes and coastlines. It’s time to put an end to sewage dumping, protect our precious waterways, and ensure a sustainable water system for generations to come.
Tax water companies’ huge profits and fix our sewage system.
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Some of the biggest and most profitable companies in the world are listed on the London Stock Exchange, every year they spend tens of billions of pounds doing nothing more than buying back their own shares.
Rather than reward shareholders by paying a dividend, a company can achieve the same result through share buybacks. The stock price goes up; investors receive a premium; and remaining shareholders get a bigger stake in the company.
But share buybacks are controversial.
Every pound spent inflating share prices is a pound that could have been spent to grow our economy and tackle the climate emergency. And at a time when the UK is near the bottom of the table for business investment among major economies, that’s a problem.
Take BP for example. Last year, they raked in a massive, unexpected £11 billion, off the back of Putin’s illegal invasion of Ukraine. They spent less than £1 billion of that money investing in low carbon energy, and more than £5 billion buying back their own shares – five times more.
In the last two years, share buyback programmes from the 100 biggest firms on the Stock Exchange reached record highs, exceeding 50 billion pounds a year.
That’s why the Liberal Democrats are calling for a 4 per cent tax on share buybacks, which would incentivise proper business investment, spur economic growth and raise funds fairly for our public services. At current buyback levels, it would raise £2 billion a year.
Liberal Democrat Leader Ed Davey said:
“Neither the Conservative government or Labour Party have explained how they will fund public services fairly after the next election.
“The Liberal Democrats led the way in calling for a windfall tax on oil and gas giants making eye-watering profits from soaring prices. Now we are leading the way again, with a bold call for a new tax on share buybacks that could raise £2bn a year to fund our public services.
Companies already pay huge fees to intermediaries when they do share buybacks which are often a lot higher than 4%. In 2022 Royal Mail paid double that with an 8.5% fee and still went ahead with its buyback.
That is over double what our new policy would levy, showing that companies are more than willing to push ahead with buybacks in order to boost their share price, despite the added cost.
Over the last two decades, there has never been a year where companies didn’t do share buybacks. Even in the depths of the financial crisis, listed firms spent billions of pounds buying back their own shares.
And if companies decided to increase dividends instead of doing buybacks, this would lead to higher revenue from dividend tax, which is levied at a top rate of 39.35%.
This bold new policy will incentivise productive investment and promote economic growth while raising additional revenue for our public services.
Ed Davey said:
“Large corporations from fossil fuel giants to banks are making huge profits off the back of families facing soaring energy bills, mortgage payments and food prices. It is only fair that we ask these companies to pay more in tax.
“This new levy would not just not just raise much-needed money for public services, it would encourage investment, help create jobs and boost growth including in the green industries of the future.”
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In a world fraught with uncertainty and conflict, with war raging on our continent, the UK needs to take decisive action to uphold peace, security, and democratic principles throughout the world.
Yet, under the current Conservative Government, our once-strong standing on the world stage has sadly diminished.
Our country’s reputation has suffered – inward-looking political chaos and disregard for our allies have tarnished our image. The Conservatives have neglected national security, prioritising soundbites and flash announcements over keeping our country safe. The result is low morale amongst service personnel, failing equipment, and an Army which is being cut by 10,000.Our status as an international development superpower has also been lost – thanks to Rishi Sunak’s shortsighted and cruel aid cut, which is not in the UK’s national interest.
That’s why today, Liberal Democrats have laid out a comprehensive plan to restore the UK’s diplomatic credibility, promote security, and uphold liberal values on the global stage:
Liberal Democrats are unwavering in our commitment to liberal values and international cooperation. We believe in a United Kingdom that stands tall on the world stage, promoting peace, security, and democracy.
It’s time to reclaim our place as a global leader, grounded in the values of fairness, compassion, and respect for human rights.
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