party conferences

Liberal Democrat conference in Bournemouth backed radical changes to corporation tax, including restrictions to reliefs, a boost to capital allowances and extending the tax to cover highly profitable partnerships and other unincorporated businesses. For multinationals the party wants a wider definition of permanent establishment and, longer term, a global system of business taxation. In an autumn election a penny on income tax for health and social care, and restoring the 20% rate of corporation tax to increase funding of public services, would likely be key policies.

At a conference where the Government’s tax policies for the Parliament were virtually invisible economic debate focused on the general case for low taxes and free markets – contrasted with Labour’s agenda – and, of course, Brexit.

Review of this autumn's Labour Conference in Liverpool, from a tax perspective