The VU is the relatively more liberal of the two parties, supporting a constitutional monarchy and advocating for greater democratic governance.

[12][13] It is currently led by Thomas Zwiefelhofer and holds ten seats in the 25-member Landtag of Liechtenstein.

After the 2005 state elections, which brought in an all-time low of votes, the VU provided 10 of the 25 deputies and was represented by Deputy Prime Minister Klaus Tschütscher and Hugo Quaderer in the five-member government.

The VU emerged as the clear winner from the 2009 state elections and had an absolute majority in the state parliament for the 2009–2013 legislative period with 13 seats and provided the new head of government in the coalition government with the FBP.

Furthermore, the party also has two members (Dominique Hasler and Graziella Marok-Wachter) as government councillors.