Fascinating. Not my area of expertise but I would add to this list: level with the public about the trade offs, the end of the peacetime settlement etc. It is time for a grown-up conversation. Being Labour, they will get mauled by the right wing press but they will be anyway. Make the argument. The best time was upon entering office when they saw the true state of things. The second best time was when Trump unveiled his tariff plans. The third best time is now, when you have put the nation through yet another reset. Make it count.
Let me as a pensioner declare that the abolition of the triple lock is indefensible. Pensions should be maintained by increases in inflation alone. I accept that when Blair and Brown increased the weekly pension by 71P that the response of pensioners was inevitable. In Advice 2, where is the advice? We need to fund the extra requirements of defence by issuing Defence Bonds and let the Bond Market take the strain. Social Care and the ever increasing demands of the NHS should be funded by a Wealth Tax of 2% annually on assets valued at more than £10 million. Some say the rich would flee to other countries. So what, their assets cannot flee in most instances. The lack of investment is unforgivable and no industrialists should be honoured if their company has invested less than the G7 average. George Osborne reduced Corporation tax to encourage them. He failed completely. Tax allowance on Pension Contributions should be fixed at 20% for everyone. Tax allowances on ISA’s should be reduced to the personal allowances. Council Tax needs to be revised from valuations based on 1991 property values to current values. It is total cowardice that has prevented revisions over the past 35 years. You mention that NI contributions should be reduced and Standard Rate tax increased to restore the revenues. Why not simply put up the threshold at which NI is not paid. The scandal that is Parking Charges needs to be nationalised. It cost me £10 to use Express Drop off at Stansted when a relative was catching a plane. Some brain work is needed here to stop the public being fleeced by authorities which provide parking at hospitals, railway stations, etc. The revenues are needed by the State.
I find it shocking that you apparently have no understanding of basic accounting identities. Have you ever heard of double-entry bookkeeping?
A government deficit is exactly equivalent to a surplus in the non-government sector. If the government spends more than it takes in taxes or bond sales then it is transferring net financial assets to the non-government sector. This may be the only way to stimulate aggregate demand and boost the economy if the non-government sector wants to save. Attempting to do otherwise simply forces the non-government sector into debt, and it is private debt that caused the 2008 crisis.
Fascinating. Not my area of expertise but I would add to this list: level with the public about the trade offs, the end of the peacetime settlement etc. It is time for a grown-up conversation. Being Labour, they will get mauled by the right wing press but they will be anyway. Make the argument. The best time was upon entering office when they saw the true state of things. The second best time was when Trump unveiled his tariff plans. The third best time is now, when you have put the nation through yet another reset. Make it count.
Fascinating. Not my area of expertise but I would add to this list: level with the public about the trade offs, the end of the peacetime settlement etc. It is time for a grown-up conversation. Being Labour, they will get mauled by the right wing press but they will be anyway. Make the argument. The best time was upon entering office when they saw the true state of things. The second best time was when Trump unveiled his tariff plans. The third best time is now, when you have put the nation through yet another reset. Make it count.
Fascinating. Not my area of expertise but I would add to tgis list: level woth the public about the trade offs, the end pf the peacetime settlement you've outlined here etc. It is time for a grown-up conversation. Being Labour, they will get mauled by the right wing press but they will be anyway. Make the argument. The best time was upon entering office when they saw the true state of things. The second best time was when Trump unveiled his tariff plans. The third best time is now, when you have put the nation through yet another reset. Make it count.
Fascinating. Not my area of expertise but I would add to this list: level with the public about the trade offs, the end of the peacetime settlement etc. It is time for a grown-up conversation. Being Labour, they will get mauled by the right wing press but they will be anyway. Make the argument. The best time was upon entering office when they saw the true state of things. The second best time was when Trump unveiled his tariff plans. The third best time is now, when you have put the nation through yet another reset. Make it count.
Let me as a pensioner declare that the abolition of the triple lock is indefensible. Pensions should be maintained by increases in inflation alone. I accept that when Blair and Brown increased the weekly pension by 71P that the response of pensioners was inevitable. In Advice 2, where is the advice? We need to fund the extra requirements of defence by issuing Defence Bonds and let the Bond Market take the strain. Social Care and the ever increasing demands of the NHS should be funded by a Wealth Tax of 2% annually on assets valued at more than £10 million. Some say the rich would flee to other countries. So what, their assets cannot flee in most instances. The lack of investment is unforgivable and no industrialists should be honoured if their company has invested less than the G7 average. George Osborne reduced Corporation tax to encourage them. He failed completely. Tax allowance on Pension Contributions should be fixed at 20% for everyone. Tax allowances on ISA’s should be reduced to the personal allowances. Council Tax needs to be revised from valuations based on 1991 property values to current values. It is total cowardice that has prevented revisions over the past 35 years. You mention that NI contributions should be reduced and Standard Rate tax increased to restore the revenues. Why not simply put up the threshold at which NI is not paid. The scandal that is Parking Charges needs to be nationalised. It cost me £10 to use Express Drop off at Stansted when a relative was catching a plane. Some brain work is needed here to stop the public being fleeced by authorities which provide parking at hospitals, railway stations, etc. The revenues are needed by the State.
Best regards,
John Woods BSc(Econ)
Yet no real mention of the economic damage Brexit is having on the UK economy - there needs to be push for better trading terms as a matter of urgency
Completely fails to even mention the biggest challenges to the UK becoming an overall sustainable economy and hence society
- achieving near-zero emissions ASAP and
- adapting to the increasing impact of climate change
The new Chancellor needs to watch this first:
https://www.nebriefing.org
I find it shocking that you apparently have no understanding of basic accounting identities. Have you ever heard of double-entry bookkeeping?
A government deficit is exactly equivalent to a surplus in the non-government sector. If the government spends more than it takes in taxes or bond sales then it is transferring net financial assets to the non-government sector. This may be the only way to stimulate aggregate demand and boost the economy if the non-government sector wants to save. Attempting to do otherwise simply forces the non-government sector into debt, and it is private debt that caused the 2008 crisis.
https://en.wikipedia.org/wiki/Sectoral_balances
Fascinating. Not my area of expertise but I would add to this list: level with the public about the trade offs, the end of the peacetime settlement etc. It is time for a grown-up conversation. Being Labour, they will get mauled by the right wing press but they will be anyway. Make the argument. The best time was upon entering office when they saw the true state of things. The second best time was when Trump unveiled his tariff plans. The third best time is now, when you have put the nation through yet another reset. Make it count.
Fascinating. Not my area of expertise but I would add to this list: level with the public about the trade offs, the end of the peacetime settlement etc. It is time for a grown-up conversation. Being Labour, they will get mauled by the right wing press but they will be anyway. Make the argument. The best time was upon entering office when they saw the true state of things. The second best time was when Trump unveiled his tariff plans. The third best time is now, when you have put the nation through yet another reset. Make it count.
Fascinating. Not my area of expertise but I would add to tgis list: level woth the public about the trade offs, the end pf the peacetime settlement you've outlined here etc. It is time for a grown-up conversation. Being Labour, they will get mauled by the right wing press but they will be anyway. Make the argument. The best time was upon entering office when they saw the true state of things. The second best time was when Trump unveiled his tariff plans. The third best time is now, when you have put the nation through yet another reset. Make it count.