A £100 billion “citizens” of the fund should be created for distribution in the united KINGDOM, the wealth more evenly, the Liberal Democrat leader Sir Vince Cable proposes.
It will say the part of the conference, it could be created through taxes on the wealthiest and the sale of assets, such as the united KINGDOM participation in the Royal Bank of Scotland.
Mr. Vince will say that it is a “shame” taxpayers are not yet reimbursed by the company’s rescue in the financial crisis.
A sovereign wealth fund would consolidate public finances, it will add.
Lib Dems offer the house to the centre of Cable
Cable exit after “brexit ” resolved”
The Lib Dem leader – who predicted the financial crash in 2008 – warned of “dangerously high” debt levels in the economy of the united KINGDOM.
A wealth fund, he hoped, would allow the UK to benefit from returns on investment typically available only to the rich and to protect the UK from future economic crises.
Explain the policy on the BBC’s Andrew Marr Show, he said that he wanted to scrap the inheritance tax and replace it with a tax on donations through the duration of their life”.
Such an approach was necessary, he said, because “the inequalities of wealth are huge and growing, and one of the main sources of discontent underlying it.”
Asked about the comments by the former Lib Dem leader Lord Campbell, who said Sir Vince “can see the end of the road”, he said: “I’m not running out of road, there are a lot of way to go.”
Mr. Vince has already said he would stay until “brexit” has been “solved, or stopped, but would be gone before the next general election in 2022.
Asked if he would still be party leader by the end of next year, Mr Vince said: “I think it is uncertain. I have a series of tasks to be done. I’m going to do.
“I’m not the definition of a horizon. I think it would be stupid to do so with so much uncertainty flying around.”
Mr Vince said that the Lib Dems have talked to the disillusionment of Labour and Conservative Mps, who, he claimed, were prepared to leave their parties on “brexit”. But he said that the establishment of a new centre party “was not a practical proposition” and “not going to happen”.The “Support Vince”
Delegates at the Liberal Democrat conference in Brighton will debate taxes on the heritage, Tuesday.
BBC political correspondent Jonathan Blake said that the policy will be easy to sell to members, but it will need to find broader support if the party were to re-emerge from the margins of British politics.
The Lib Dems have struggled electorally since 2010, when they formed a coalition government with the Conservatives. The party has 12 Members of’57 they had in 2010.
Parliament of the united KINGDOM
Mr. Vince has advocated a change in the regulations of the party, so that someone who is not a MEMBER of parliament could become a leader, and “liberal” people can register for the Lib Dems, free of charge and obtain the right to vote for the leadership.
Lib Dem MP Ed Davey told the BBC that he supported Sir Vince’s proposed reforms, saying a shake-up of the part that would allow him to switch “force”.
Mr Davey said that the party was united behind Sir Vince, who has announced he will resign before the next general election due in 2022.
Asked if he would stand for leader, the former energy secretary, Mr Davey did not rule himself, saying: “I’m not thinking about it for the moment, I’m thinking about supporting Vince.”
Lib Dem deputy leader Jo Swinson said that they had the “ingredients to be able to challenge the other parties”.
She told Sky News’s Sophy Ridge On Sunday: “The very idea of a centrist party, gets talked about constantly, but did not really get off the ground.
“You don’t need to set up a new party because the Liberal Democrats are here, but we recognize that we must change.”