Tim Farron's Lib Dems reckon they can raise £1bn from the legalisation of cannabis

Tim Farron Elected Leader Of The Liberal Democrats
The UK will head to the polls on 8 June. (Source: Getty)

Tim Farron's Liberal Democrats have launched their election plans with a commitment to a second vote on Brexit and a budget led by the legalisation of cannabis.

The Lib Dems have long sought to position themselves as the party of Remain voters, and in a manifesto published today they have formally stated their hopes of securing a second referendum on the EU. The party has also promised to fight a "hard" Brexit.

The manifesto has been published ahead of a launch event later today, and has stressed that a second referendum would include an option to stay inside the EU.

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Farron's party will also outline a raft of promises to young voters when the plans are formally launched in London.

The Lib Dems hope to fund the giveaway, in part through opening up a taxed, regulated market for cannabis sales to over-18s, which it estimates will raise £1bn.

The party has said already that it will add a penny to income tax to fund NHS spending, and the manifesto reveals that Farron's party would also increase corporation tax to pay for schools investments.

And the party has promised a "responsible and realistic" £100bn fund for infrastructure investment, which will be used to build 300,000 homes a year by 2022. It will also go towards fibre optic broadband, investment in road and rail routes, and sources of renewable energy.

Other key points from the manifesto include:

  • The reversal of corporation and capital gains tax cuts by the Conservatives
  • A ban on all diesel cars and vans
  • Pledge to lower voting age to 16 and introduce proportional representation in elections
  • Mandate televised party leader debates ahead of general elections
  • More devolution of powers to raise tax revenues, particularly in Cornwall and the North East
  • A promise to "stamp out abuse" of zero-hours contracts, giving workers a right to request a fixed contract.

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