Liberal Democrats propose bank share scheme

20 September 2011

UK party the Liberal Democrats have proposed a new scheme that would see every British citizen handed shares in the banks bailed out at the height of the global financial crisis.

The idea is a top priority for the group's 2015 election manifesto as it seeks to retain its own identity despite its current coalition with the Conservatives.

Chairman of the Liberal Democrats' policy committee Norman Lamb - who is also the group's MP for north Norfolk - said the proposals need to be centred on the party's own values and noted: "We want that manifesto to be distinctive, credible [and] radical in facing up to the challenges and opportunities that lie ahead."

The plan for the bank stock giveaway was set out by Stephen Williams - co-chairman of the party's parliamentary Treasury committee - who suggested the shares should be available to all, not just those with the financial resources to purchase them.

By Asim Shah

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