I have a plan to save the UK's economy
Discussion
Now with the government spunking money all over the place buying out banks and loaning companies money they'll probably never see back why don't they just give the money to the people?
I realise this could be quite expensive and difficult to set up but they could give every adult in Britain (I don't know the figures but say 45million over 18's) £20,000 each £950b if my sums are correct (surely affordable). They could distribute this through the banks that they now own. People would have to register or it could be done via National Insurance numbers (it could be a condition that when you register you get an ID card - they'd like that). The money couldn't be withdrawn but could be used for purchases such as Cars, houses, or used for electronics, DIY etc. They could even add a further £5k bonus if you buy a UK built car for instance.
This would hopefully have the effect of people spending again and the economic situation improving. After 5 years the government could claim back any money left in the accounts and would also recieve VAT etc, so would get a fair chunk back in the long run. They could even give people much more money if the theory is sound!
Hopefully that all makes sense. Feel free to tear my plan to shreds (first post probably!). I'm not an economist but this could make Brown look like a real world saving hero just like he wants and me look historically more important than say Malthus or Adam Smith!
I realise this could be quite expensive and difficult to set up but they could give every adult in Britain (I don't know the figures but say 45million over 18's) £20,000 each £950b if my sums are correct (surely affordable). They could distribute this through the banks that they now own. People would have to register or it could be done via National Insurance numbers (it could be a condition that when you register you get an ID card - they'd like that). The money couldn't be withdrawn but could be used for purchases such as Cars, houses, or used for electronics, DIY etc. They could even add a further £5k bonus if you buy a UK built car for instance.
This would hopefully have the effect of people spending again and the economic situation improving. After 5 years the government could claim back any money left in the accounts and would also recieve VAT etc, so would get a fair chunk back in the long run. They could even give people much more money if the theory is sound!
Hopefully that all makes sense. Feel free to tear my plan to shreds (first post probably!). I'm not an economist but this could make Brown look like a real world saving hero just like he wants and me look historically more important than say Malthus or Adam Smith!
Edited by skip_1 on Thursday 5th February 23:05
skip_1 said:
Ordinary Bloke said:
Yeah, that makes lots of sense, £21.11 each...
Maybe it should say £950billion or hundred billion instead? Edited by Ordinary Bloke on Thursday 5th February 23:04
It's what the US government did last year, and it didn't seem to work, but if they want to give me 21 grand I promise to spend it (on a 911)...
An incentive to buy a British car is a sound idea.
An incentive to buy anything British is good too.
However handing out money to individuals is a one off event and no doubt a lot would be spent on Chinese and Korean goods. It would just be a short term blip.
Unpopular, I know, but incentives to business to employ people or even, just not dump them onto the State has a more lasting effect.
An incentive to buy anything British is good too.
However handing out money to individuals is a one off event and no doubt a lot would be spent on Chinese and Korean goods. It would just be a short term blip.
Unpopular, I know, but incentives to business to employ people or even, just not dump them onto the State has a more lasting effect.
jeff m said:
An incentive to buy a British car is a sound idea.
An incentive to buy anything British is good too.
However handing out money to individuals is a one off event and no doubt a lot would be spent on Chinese and Korean goods. It would just be a short term blip.
Unpopular, I know, but incentives to business to employ people or even, just not dump them onto the State has a more lasting effect.
But isn't the idea that we should buy our way out of the recession, no matter the origin of the goods as long as they're bought from a UK retailer?An incentive to buy anything British is good too.
However handing out money to individuals is a one off event and no doubt a lot would be spent on Chinese and Korean goods. It would just be a short term blip.
Unpopular, I know, but incentives to business to employ people or even, just not dump them onto the State has a more lasting effect.
I think this thread is very, very silly.
Everyone should take a leaf out of the older generations behaviour- save for things, dont run up huge credit card bills.
People moan about the state of the economy, they should be saving for a rainy day, like my parents have done. They have saved for 35 years, and are now in the fortunate position of having................................
f
k all.
Hang on, that cant be right, can it??
Everyone should take a leaf out of the older generations behaviour- save for things, dont run up huge credit card bills.
People moan about the state of the economy, they should be saving for a rainy day, like my parents have done. They have saved for 35 years, and are now in the fortunate position of having................................
f
k all.Hang on, that cant be right, can it??
skip_1 said:
jeff m said:
An incentive to buy a British car is a sound idea.
An incentive to buy anything British is good too.
However handing out money to individuals is a one off event and no doubt a lot would be spent on Chinese and Korean goods. It would just be a short term blip.
Unpopular, I know, but incentives to business to employ people or even, just not dump them onto the State has a more lasting effect.
But isn't the idea that we should buy our way out of the recession, no matter the origin of the goods as long as they're bought from a UK retailer?An incentive to buy anything British is good too.
However handing out money to individuals is a one off event and no doubt a lot would be spent on Chinese and Korean goods. It would just be a short term blip.
Unpopular, I know, but incentives to business to employ people or even, just not dump them onto the State has a more lasting effect.
I'm a bit of a capitalist so my veiws are often off the wall to many
If you give Tarquin a few quid he will buy a Hoodie made in Korea. The fact that it is sold by an Indian in UK helps but it doesn't do much for the "man in the Street" who wants to keep his job.
Give a businessman a tax credit if he takes on new employees has a lasting effect.
The problem is that at present the Govenment is only concerned about its own bottom line, hence looking for new avenues of income , business, payroll taxes, motorists almost anyone it can wring a few more pennies from.
At the same time it continues to maintain a massive public sector along with the ever increasing pension liablity.
I take the veiw that only taxation from the private sector is actually real tax money.
Example..A policeman paid from UK taxes pays tax but if they just paid him a net equivalent it would be the same net cost. So in reality a State employees tax is a wash.
The govenment will have to at some stage have to loosen its grip on business either on regulatory basis or taxation. If it continues to only consider itself more business will shrink and more will lose their jobs.
I doubt we can actually reach the New Labia objective of all being employed by the state but that seems to be the direction at present.
We'ed need pretty good invisable earnings for that
I may try this again with less alcohol.
Giving everyone money is not really any stupider than just giving it to the banks. The trouble is it still wouldn't actually create anything new. Simplify it down to 10 people on a boat trading their rations using tokens. If you give everyone an extra 10 tokens it doesn't give them any more rations.
The problem with the economy at the moment in my view is not that no one is spending or lending money, it's that no one is actually creating wealth, and lots of people are consuming it.
The problem with the economy at the moment in my view is not that no one is spending or lending money, it's that no one is actually creating wealth, and lots of people are consuming it.
How about the people in debt registering with the governent for individual bail outs? For example those people that are up to their necks in debt can have their debts cleared by the governent but they will be restricted from this type of borrowing again for five years. That would surely kick start the economy if people had more cash to spend.
That would suit me fine even though I'm not in debt I would prefer to see the tax payers bailed out rather than the banks etc...
That would suit me fine even though I'm not in debt I would prefer to see the tax payers bailed out rather than the banks etc...
Number 5 said:
How about the people in debt registering with the governent for individual bail outs? For example those people that are up to their necks in debt can have their debts cleared by the governent but they will be restricted from this type of borrowing again for five years. That would surely kick start the economy if people had more cash to spend.
That would suit me fine even though I'm not in debt I would prefer to see the tax payers bailed out rather than the banks etc...
You could not restrict it to once every five years because people would abuse that (every five years)!That would suit me fine even though I'm not in debt I would prefer to see the tax payers bailed out rather than the banks etc...
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