Article 6KCZJ Lib Dems to open conference with call to copy Biden’s tax on share buybacks

Lib Dems to open conference with call to copy Biden’s tax on share buybacks

by
Peter Walker Deputy political editor
from World news | The Guardian on (#6KCZJ)

Exclusive: Money raised from a tax on companies buying their own shares could be used for green investment, party says

The Liberal Democrats are to kick off their spring conference with a call for the UK to mimic Joe Biden's tax on share buybacks by big corporations, as the party prepares for a further push into Conservative-held blue wall" seats before the election.

The plan, the set-piece announcement of Saturday's first full day of the gathering in York, would impose a 4% tax on any share buybacks by FTSE-100 companies, which on the basis of the past two years of such activities would raise about 2bn annually.

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