The Liberal Democrats, colloquially known as the Lib Dems, is a political party in the United Kingdom. Ideologically adhering to liberalism, it was founded in 1988. The party is based at Liberal Democrat Headquarters, which since September 2025 has been located at Buckingham Gate, in the Westminster area of Central London. The party's leader is Ed Davey. It is the third-largest party in the United Kingdom, with 72 members of Parliament (MPs) in the House of Commons. It has 74 members of the House of Lords, 10 in the Scottish Parliament, 1 in the Welsh Senedd, and around 3,200 local council seats. The party holds a twice yearly Liberal Democrat Conference, at which policy is formulated. In contrast to its main opponents, the Lib Dems grant all members attending Conference the right to vote on policy, under a one member, one vote system. As well as voting in the Conference Hall, the party allows its members to vote online for its policies and leadership elections.