Suggestion for the economy..
Discussion
Cut corp tax drastically, increase import duties by enough to cover the shortfall in revenue.
It would encourage UK business, immediately making it much more profitable. Short term it must be tough but long term it must be advantageous...?
Are there EU competition rules that would stop it?
It would encourage UK business, immediately making it much more profitable. Short term it must be tough but long term it must be advantageous...?
Are there EU competition rules that would stop it?
retrospectively tell the banks that in order to keep the billions they were given on the basis that they would start lending and that they chose to trouser and pay bonuses with that they must now reduce the balance of every mortgage in the country by £20K - it would certainly get me spending again!
Why did the taxpayer put in these billions, and none of it come back to the taxpayer?
Why did the taxpayer put in these billions, and none of it come back to the taxpayer?
Completely write off everyones debt. all of it. its all intangable money anyway, then everyones money will be their own and the country will start from scratch and spend spend spend.
Disclaimer, I know that this is a silly idea, but I am just throwing it out there in the hope a labour financial policy wonk reads this and does it, then I will have no mortgage, hey, its worth a try.
Disclaimer, I know that this is a silly idea, but I am just throwing it out there in the hope a labour financial policy wonk reads this and does it, then I will have no mortgage, hey, its worth a try.
Getragdogleg said:
Completely write off everyones debt. all of it. its all intangable money anyway, then everyones money will be their own and the country will start from scratch and spend spend spend.
Disclaimer, I know that this is a silly idea, but I am just throwing it out there in the hope a labour or Conservative financial policy twonk reads this and does it, as either way the labour party will steal any 1/2 sensible idea then I will have no mortgage, hey, its worth a try.
Genius idea but i have made some changes to help get this through...Disclaimer, I know that this is a silly idea, but I am just throwing it out there in the hope a labour or Conservative financial policy twonk reads this and does it, as either way the labour party will steal any 1/2 sensible idea then I will have no mortgage, hey, its worth a try.
Lefty Guns said:
Cut corp tax drastically, increase import duties by enough to cover the shortfall in revenue.
It would encourage UK business, immediately making it much more profitable. Short term it must be tough but long term it must be advantageous...?
Are there EU competition rules that would stop it?
And watch other nations tax the fIt would encourage UK business, immediately making it much more profitable. Short term it must be tough but long term it must be advantageous...?
Are there EU competition rules that would stop it?
k out of our exports.GreigM said:
retrospectively tell the banks that in order to keep the billions they were given on the basis that they would start lending and that they chose to trouser and pay bonuses with that they must now reduce the balance of every mortgage in the country by £20K - it would certainly get me spending again!
My mate organises business loans (LLoyds). They are very keen to lend money but they have been hammered so much for their lending policy that the due dilligence process now means that few businesses are making the cut. Vicious circle.
(and he isn't getting a bonus this year)
Serious answer from me now, I would like to see more of the money I earn in MY pocket.
My business employs 4 full timers. Me, secretary, a HGV driver and a general duties lad. if I add up all our wages after deductions then compare that with my various tax obligations, (VaT,income tax, all the NI contributions, and fuel duties, business rates, etc) the Government still takes more money than the 4 of us put together.
If i was to sell any of the property I own I then get taxed again, if I buy something and sell it on I get taxed, if I manage to save any I get taxed on the savings.
This is not a good state of affars, I would pay more to myself and the rest of the staff if I could but I cannot.
The problem is OVERTAXATION, let people keep more of their own money and the country will recover as people spend money they have got, also if you let people keep more money they will borrow less.
My business employs 4 full timers. Me, secretary, a HGV driver and a general duties lad. if I add up all our wages after deductions then compare that with my various tax obligations, (VaT,income tax, all the NI contributions, and fuel duties, business rates, etc) the Government still takes more money than the 4 of us put together.
If i was to sell any of the property I own I then get taxed again, if I buy something and sell it on I get taxed, if I manage to save any I get taxed on the savings.
This is not a good state of affars, I would pay more to myself and the rest of the staff if I could but I cannot.
The problem is OVERTAXATION, let people keep more of their own money and the country will recover as people spend money they have got, also if you let people keep more money they will borrow less.
Getragdogleg said:
Completely write off everyones debt. all of it. its all intangable money anyway, then everyones money will be their own and the country will start from scratch and spend spend spend.
Disclaimer, I know that this is a silly idea, but I am just throwing it out there in the hope a labour financial policy wonk reads this and does it, then I will have no mortgage, hey, its worth a try.
To be honest, that probably isn't quite such a silly idea as it might first appear.Disclaimer, I know that this is a silly idea, but I am just throwing it out there in the hope a labour financial policy wonk reads this and does it, then I will have no mortgage, hey, its worth a try.
IIRC the Japanese Govt tried this kind of approach (although not quite so drastic) in the 1990's. They sent everyone a big cheque to encourage them to clear debts and spend*
Clearly pumping billions (or even hundreds of billions) into the banks isn't really having much effect. It certainly isn't getting them lending or generating cash flow. They are just hoarding it as far as I can see.
I think ultimately someof these banks need to be fully nationalised and amalgamated into one giant superbank under state control - but that does necessitate the State empolying people who are more competent than those who previously ran the banks. It would need to be overseen by a board comprising financiers, economists, academics, and entrepreneurs/businesspeople. It would need to have extremely strict operating guidelines also.
(*If anyone knows more about this I'd be interested to hear it, as I have only heard about it anecdotally).
Edited by AlexKP on Saturday 28th February 22:43
I would like to abolish all tax with the only exception being income tax
That would be set at the level required and then we could see it going up or down.
only problems I can think of is I agree with fuel,cigarette,alcahol duty
also
would the politicians want to be so honest about how much we are paying?
That would be set at the level required and then we could see it going up or down.
only problems I can think of is I agree with fuel,cigarette,alcahol duty
also
would the politicians want to be so honest about how much we are paying?
Lefty Guns said:
increase import duties by enough to cover the shortfall in revenue.
It would encourage UK business, immediately making it much more profitable. Short term it must be tough but long term it must be advantageous...?
Are there EU competition rules that would stop it?
its called protectionalism... and Broon and openly said that he is staying well clear of it, which seems odd as he is a Socialist... Its basically a step backwards in terms of capitalism and free market... having said that the European EU is just a larger protectionalist society set up to make the French feel more important..... It would encourage UK business, immediately making it much more profitable. Short term it must be tough but long term it must be advantageous...?
Are there EU competition rules that would stop it?
The Ben said:
Lefty Guns said:
increase import duties by enough to cover the shortfall in revenue.
It would encourage UK business, immediately making it much more profitable. Short term it must be tough but long term it must be advantageous...?
Are there EU competition rules that would stop it?
its called protectionalism... and Broon and openly said that he is staying well clear of it, which seems odd as he is a Socialist... Its basically a step backwards in terms of capitalism and free market... having said that the European EU is just a larger protectionalist society set up to make the French feel more important..... It would encourage UK business, immediately making it much more profitable. Short term it must be tough but long term it must be advantageous...?
Are there EU competition rules that would stop it?
The Ben said:
yes... someone else realises my rationale for once.... Ok we cant always blame America, the French have to take all of this blame...
EFA.I mean, what do we have a navy for? Surely it's time Calais copped it again.
I'd still be interested in hearing anyone elses thoughts on the Japanese thingy above...
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