05-30-2025, 11:04 AM
The Liberal Party notes the continued deterioration in the UK governments finances, with a monthly budget deficit in April 2025 of £20.2billion, an increase of £1billion over the same month last year.
This deficit emerged despite an increase in tax receipts for the month of £5 billion.
This budget deficit for the year 2024 to 2025 is estimated to be in the region of £151.9 billion, a substantial increase on the estimate of £137.3 billion deficit suggested by the Office for Budget Responsibility in March 2025.
This total includes £104.9 billion in interest payments on a national debt which has now reached £2.7 trillion, which equals 98% of the countries annual GDP.
The Liberal Party believes the current trajectory of government debt is unsustainable and steps need to be taken urgently to stimulate growth in small businesses.
We propose reducing administration for the SME sector by lifting the ceiling on VAT registration to £150k and adopting a business rates levy which simply covers businesses expense in the community.
This deficit emerged despite an increase in tax receipts for the month of £5 billion.
This budget deficit for the year 2024 to 2025 is estimated to be in the region of £151.9 billion, a substantial increase on the estimate of £137.3 billion deficit suggested by the Office for Budget Responsibility in March 2025.
This total includes £104.9 billion in interest payments on a national debt which has now reached £2.7 trillion, which equals 98% of the countries annual GDP.
The Liberal Party believes the current trajectory of government debt is unsustainable and steps need to be taken urgently to stimulate growth in small businesses.
We propose reducing administration for the SME sector by lifting the ceiling on VAT registration to £150k and adopting a business rates levy which simply covers businesses expense in the community.