The Liberal Democrats have called for a new tax on share buybacks by large companies as the party holds its spring conference in York.Sarah Olney, the Lib Dem Treasury spokesperson, used her speech on Saturday to set out the plan to follow Joe Biden's example and impose a 4% levy on the share buybacks by FTSE 100 firms.The measure could raise around £2 billion annually for public services and investment in green industries, the party said.Critics say buybacks - when a company purchases its own s

The Liberal Democrats have called for a new tax on share buybacks by large companies as the party holds its spring conference in York.Sarah Olney, the Lib Dem Treasury spokesperson, used her speech on Saturday to set out the plan to follow Joe Biden's example and impose a 4% levy on the share buybacks by FTSE 100 firms.The measure could raise around £2 billion annually for public services and investment in green industries, the party said.Critics say buybacks - when a company purchases its own shares - are used to inflate share prices and come at the expense of spending on investment.