I am probably thinking right outside the box, but in the event of the government having to nationalize all the banks, perhaps we have the opportunity to create a brand new sustainable stakeholder economy. The creation of a Citizens Income could overcome the current state benefits stigma, and would replace the complication of all current benefits including the Old Age Pension.
The object of the exercise would be to give every person ( over 25 or ten years ( legal UK residence ) & income tax paid ) in the country a virtual 100,000 quid in a national savings account which paid say 10% interest. This would equate to a ” Citizens Income ” and people would be able to be employed to increase this as they pleased.
( Any UK born & under 25 forced to leave their family home due to abuse or after leaving residential care would qualify for the Citizens Income in Full ) Foster Carers could receive the full 7500.
Income tax could be set at 50% after the first 5000 above the Basic Minimum, but it would be possible to allow tax relief on the purchase of your own home. Children could also attract extra Tax free Alowance, say 7500 for the first, 5000, for the second child, but only 2500 for the third, and for ( extra future children ) ( unless Rape can be proven on the balance of probabilities ) ZERO !
Any UK born & under 25 person forced to leave their family home due to abuse, or after leaving residential care would qualify for the Citizens Income in Full. Foster Carer families could receive the full 7500 Tax Free Allowance for each child in their Care, likewise children looking after their elderly relatives without the support of Social Services. Similarly Grand Parents ( and relatives over 50 or mildly physically disabled ) looking after their Grand Children whilst their own children and spouses are out at work. ( Discuss )
The current and proposed revised system of Free pre school Childcare is not fit for purpose, except to provide free babysitting for celebrity WAGS in order that they can go ” Glamour Shopping ” thence get ” pissed up ” in trendy Wine Bars ( This needs further thought )
There would also need to be a maximum income, say 10 times the citizens income, anything above that would be subject to 100% tax. However some Tax Alowance could be given for every full time person directly employed. ( The Chief Executive could delegate his tax relief to key managers, who could then delegate a proportion down to lower management as the case may be. )
The object of the exercise would be to achieve maximum income via saving throughout life up to retirement. Obviously people in high paid jobs could retire earlier ( after having paid in full for their house ). Perhaps they could continue to work part time as consultants in their chosen field or go into politics ? ( Far better than most of the current Westminster crap, who have never done a real job. )
To prevent depreciation on consumer goods there would be no Base Rate credit allowed on any product not capable of ( with maintenance ) lasting 30 years.and Inheritance tax would be 100% on cash savings yet all property including business equipment and land could be tax free. However, a small tax on other credit could funnd the administration costs of the banking system, with existing high street banks competing to provide the most competitive current accounts & savings rates. ( Discuss )
This policy could make it worth voting for the working class, although I expect that the Stock Market Parasites would object, so no chance of their puppets like David Cameron or even given the chance Jeremy Corbyn’s ” Hard Labour ” doing it. ( Left Unity are still strung up in 19th Century Marxism & Class Warfare & Don’t mention Caroline Lucas or Will Straw. )
We could easily be on the brink of a total global stock market meltdown, which will inevitably cause all the Banks to go bust, and with them lots of FTSE listed companies. Of course if we idly stand by and do nothing the result could end in serious civil unrest, but perhaps we need to take the following approach. The railways were Nationalised after being contracted to provide war transport at a fixed price, yet when the government had to pay up the country was totally bankrupt. The thing was that the railway companies owed the government a similar amount, and as neither could afford to pay each other, nationalization was the only sensible answer.
( What Price Quantitive Easing Now ? )
1. Nationalise all the UK listed Banks, and then if the companies they have lent to can’t stump up the cash, ( no asset stripping allowed ) nationalise them also.
2. Introduce a Citizens Income ASAP at a level where everybody can afford to keep warm and dry and have a full belly. We may need to Barter our North Sea Oil ( as I am informed it’s the best available for making plastic ) however, that is not to say that we can’t barter other UK products ( pointless or any potentially dangerous electronics ” chucked out ” ASAP ” ) and the revolutionary developed by our NHS purely by accident after analysing my annual GP Blood Tests ( & tested by me as chief Lab Rat undercover on Healey Ward plus Cardiac ) Pink Compound !
Pink Compound been on successful Global clinical trial for over a year now, that’s what cured Ebola and it works by boosting your immune system ( Unlike Monsanto genetically modified e-coli bacteria shit ( which the Health-Nazis still attempt to force Poor Ppeople ( Those below the financial apartheid barrier & which Max Keiser ” filched ” before he blocked me on twitter ) to consume via a Tax on Sugar ) Aspartame ! Likewise the Type 2 Diabetic Epidemic.
3. Introduce a tax system where it pays dividends in tax allowances to employ people and prescribes a maximum wage for those not directly employing others.
4. Established small business should be able to stand on its own feet, but the individual units of FTSE companies may need to be converted over time into workers cooperatives to provide a true competitive FREE MARKET whilst simultaniously creating a true market for labour. ( Footnote, If your employer treats you like a Mushroom ( keeps you in the dark & feeds you Shit conditions ( Namely Sports Direct & other once Stock Market Star Performers, now ping-pongers who utilise virtual slave labour housed virtual Concentration Camps with padding ( like Apple ) in ” Emerging Markets ” ! ).
5. All mortgages which go into default converted into National Council Houses, and their occupier charged a suitable rent, ( no need to throw anyone on the street ) By doing the above it should be possible to reach a position where all cash savings are valid up to the 85k bank limit, all National Savings accounts retain full value.
( In this way the National Bank will have At least Some money to invest in our future ! )
Rough outline anyway, anybody else got any ideas ?
PS UK Knight of the Road Safety Advice !
He who Hesitates is Lost !