Lib Dems plan to replace Treasury with growth department

The Liberal Democrats have proposed replacing the UK's Treasury with a new "Growth and Investment Department". The party's deputy leader, Daisy Cooper, stated that this change would end the "doom loop" of "short-term Treasury tax grabs", which she believes hinders long-term economic planning and investment. According to the article, the Lib Dems argue that the current Treasury structure is focused on balancing the books in the short term, rather than supporting sustainable economic growth. The proposed Growth and Investment Department would have a broader mandate to promote investment, innovation, and productivity across different sectors. The article notes that the Lib Dems' plan is part of their wider policy platform, which includes a focus on green investment and decentralizing economic decision-making. However, the proposal has not yet been adopted by the party's leadership, and it remains to be seen how it would be implemented in practice.