LIB DEMS – AHEAD OF THE GAME ON THE ECONOMY

The Liberal Democrats have consistently been ahead of the game on economic issues. Here is a list of ten things we called for first, and which have now either been implemented or taken on board by at least one of the other two main parties.

  • Northern Rock nationalisation – it was clear to us that this was unavoidable in November last year. It took the Government until February to act.

  • Independence of the Bank of England – longstanding Lib Dem policy. First Labour implemented it, over Tory opposition. Now even the Tories support it.

  • Recapitalisation of the banks – Vince Cable was the first politician to call for this. Three days later the Chancellor announced that this would be going ahead.

  • Tackling the bonus culture – in May we were the first party to put forward proposals for tackling the harmful bonus culture in the financial sector. By the autumn, ministers and the Tory leadership had realised the situation was indefensible and changed their tune..

  • Regulation of ‘sale and rent back’ agreements – this was part of our ‘7 point plan’ for dealing with personal debt, launched in September 2003. The Government announced on 22nd October this year that they were finally looking into this.

  • New court guidance to make repossession a ‘last resort’, obliging lenders to exhaust all alternatives first – another measure in the Government’s 22nd October announcement that the Lib Dems had been calling for for more than six months.

  • Changes to capital adequacy laws to require banks to hold more capital in periods of boom and less in recession – we called for this back in January 2003. Now the Conservatives back it too.

  • Ban on short selling of financial stocks – Vince Cable urged this on September 16th (having also raised the issue in July). The Government did not act until three days later, once the Americans had announced restrictions.

  • National network of financial advice centres – since 2003 we have been calling for a network of local and generic financial advice, particularly for those on lower incomes, funded by a levy on the financial services industry. Earlier this year the Tories announced their support for this too, using almost exactly the same language.

  • Curbs on irresponsible lending – a commonplace sentiment now, but we called for “the publication by the Government of strict measures for responsible lending, which lenders must be required to observe” back in September 2003.

Cllr Richard Baum Selected to Fight Bury North

Liberal Democrats in Bury have elected local Councillor Richard Baum as the party’s general election candidate for the Bury North constituency. He was unanimously elected at a special meeting of local party members in Elton on November 10th.

Richard, 27 and a mental health services manager is a life-long Bury resident and has been a Councillor for St Mary’s ward in the Borough since May 2007. Richard said “I am absolutely delighted to have been elected to stand for Parliament in my home town and for a party that I believe in. It really is an honour.”

Richards Selection
Bury Lib Dem’s new Chair Nissa Finney congratulating our new Parliamenary Candidate for Bury North Richard Baum

Richard is the Liberal Democrats’ Resource spokesman on Bury Council, and has been active in many local campaigns in recent years. As well as campaigning to save local post offices and schools, Richard has led the local anti-Congestion Charge campaign, and just last week secured unanimous Council backing after Lib Dem calls for Council action against the Credit Crunch. Richard continued “I look forward to working hard on behalf of the people of Bury North on the issues that affect us all, and where the Lib Dems offer real and sensible alternatives, like the economy, crime, education and the NHS. I know that I will be part of a strong Lib Dem team in Bury North, and I am very excited about the next election when we can take the fight to Labour and the Conservatives.”

Congestion Charge – 1 in 3 Bury Residents will Pay

With Greater Manchester’s transport referendum three weeks away, a new survey reveals one in three Bury households would pay the congestion charge regularly.

Details of the congestion charge element of the Transport Innovation Fund (TIF) bid were explained to 500 Bury residents, they were then asked whether their household expected to pay regularly, 33% said yes.
The results directly challenge repeated advertising claims that nine out of ten people won’t pay the charge.

The survey was carried out for the Stop the Charge coalition of MPs, council leaders and 260 businesses by independent polling company Populus.
Bury Lib Dem Leader Councillor Tim Pickstone is a part of the Stop the Charge coalition”This survey makes it absolutely clear one in three households will be hit by the congestion charge. It is common sense that many will pay twice, if more than one person drives at peak times. One in 10 Greater Manchester residents will also pay the full charge of £1,200 a year.

“Hard working families will have to find up to £1,200 a year, that’s 8% of average take home pay for people in Great Manchester. Even paying £3 to cross the outer ring will be £700 a year, equating to 5% of the average salary – this would require a huge pay rise just to break even. This will also clearly have a strong knock on effect for our whole economy, leaving a lot less money in people’s pockets.

“Liberal Democrats in Bury are steadfastly committed to improvements to public transport and to tackling environmental damage. But this charge of working families is simply not a fair way to achive what needs to be done. I urge everyone to vote no in the referendum.”

Lib Dems call on Council to help with Credit Crunch

Liberal Democrats in Bury last week called on Council to help Bury residents through the credit crunch, suggesting new measures for local families and
businesses.

In a motion to the Council which was passed unanimously on November 5th, the Lib Dems noted the rise in local unemployment, the fall in local house prices and the threat to the survival of well-run and established businesses induced by the credit crunch and the economic slow down.

In response to rising fuel and food bills, the Lib Dems also called on the Council to do more for those on low and fixed incomes.

The Lib Dem motion called on the Council to boost help for local residents, in particular to work with the voluntary sector to boost the amount of help available to local people on debt and financial matters.

Lib Dem spokesman for Resource and Performance, Councillor Richard Baum, who proposed the motion, said “The Council should be working closer with agencies like the Citizens Advice Bureau. There are no branches in the town centre or the north of the Borough, and we call on the Council to fix that, whilst at the same time working hard to
improve and expand the services we already offer such as benefits advice, and providing more affordable housing.”

The motion also called for more help for businesses. Lib Dem group Leader Cllr Tim Pickstone said “Our motion called for a reduction in the time taken to pay invoices from small local businesses. I am glad that the Council have agreed to do this. But they need to do more. We need to give help with businesses struggling to pay their business rates, and invest more in improving the local environment to make it more attractive to shoppers and to boost trade.”

The Council agreed to adopt all of the Lib Dem proposals which will also see enhanced partnership working across the area to allow Bury residents better options and more help during the current financial difficulties.