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NEC Statement - Inequality of Wealth
The Liberal Party NEC today(26th Nov 2016) expressed concern about the dangerously growing inequality of capital ownership in each new generation in the UK. It called for the abolition of unlimited exemptions and reliefs from Inheritance Tax for land and businesses and for taxation of inherited capital be progressive according to how much is received, in addition to a lowered rate flat tax on what is given or bequeathed.
In line with the party's traditional constitution calling for liberty, property and security for all, this would finance a gradually increasing UK Universal Inheritance capital endowment for all 25 year old UK citizens with at least one UK citizen parent. No longer will some UK citizens inherit billions or millions free of tax while others inherit no capital at all.
I can well see the concerns about inequality of wealth in the UK. But as a party we are not following the alternate non establishment view as had the Liberal Party, especially Charles Bradlaugh, Lloyd George, Jo Grimond.

We do not need to look at symptoms, but the underlying conditions.
Capital and share values follow an 18 year cycle based on US property prices. Well they have for 200 years. In the cycle there is a recession that lasts 4 years and a growth period of 14 years. 18 = 14 +4. The reason is that loans are leveraged on property and at 18 years the capital markets overextend and destabilise. We should not be looking at capital ownership ratios specifically, but ways to exploit these cycles.

Fact the UK as a share of world trade has progressively fallen since 1870. In recent decades political parties have lied to the public and only offer sweeteners that they cannot fulfil. It has made politics a nonsense.The Liberals once led the anti-establishment movement during Jo Grimond and Jeremy Thorpe's tenure. Unfortunately now this has been hijacked by the right because of wishy washy liberalism.

- I would favour increasing the National Insurance Upper Accrual Point (UAP) to well above £40,000 to refinance the NHS. It is a flat rate tax on earnings, something averaging 11-12% from memory.
- The more radical move would be to raise Higher Rate Tax Thresholds drastically on the assumption that these earnings are being used for consumption. With this increase the government should advertise SEIS and EIS schemes. The hope being that consumption can be transferred to investment. Creating support and growth in Tech industries and the commercial Arts.

The underlying principal is the UK needs modernisation and lower production costs to capture world markets. This naturally leads to higher wages, a better trained workforce and better career opportunities as it did post WWII. It is to the Liberal Party's benefit to ally with tech developments and have a progressive approach as compared to bumbling failure in the other political parties.

If you doubt me go on youtube and watch some old Liberal political broadcasts by people like Jo Grimond etc. Liberals used to talk a lot about anti-establishmentism, such as disestablishment of the Church, stop no hereditary Lords calling themselves Lords. Decentralising Westminster functions to regional governance in England.

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