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Ideas to boost the UK economy? Watch

  • View Poll Results: How to improve the UK economy?
    Leave the EU
    9
    18.75%
    Lower income tax for those earning over 100k
    1
    2.08%
    Lower income tax for those earning under 100k
    6
    12.50%
    Reform and/or Cut the Welfare State
    3
    6.25%
    Invest in UK infrastructure
    10
    20.83%
    Increase the minimum wage or introducing a 'living wage'
    0
    0%
    Cut money spent on prisoners (including cost of food ,tvs,cetc..)
    3
    6.25%
    Cut public sector pensions to public sector equivalents
    0
    0%
    Cut government waste
    1
    2.08%
    Cut MPs/Councillors expenses
    0
    0%
    Cut VAT
    3
    6.25%
    Cut Fuel duty
    2
    4.17%
    Cut the UK budget deficit - in order to cut interest payments
    1
    2.08%
    Cutting public sector pay of all those earning over 100k
    1
    2.08%
    Reform NHS /make it more efficient
    1
    2.08%
    Shrink government generally
    7
    14.58%

    • Thread Starter
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    My ideas are:

    Lower VAT and Fuel duty (this would lower the prices of virtually everything from food to clothing all things which are transported by road)
    Lower income tax for the poorest (i.e a new 15p tax rate)

    Stop the welfare state encouraging SOME people not to work-ie those better of not working than getting a job (i.e http://www.thesun.co.uk/sol/homepage...ncil-home.html)
    Make sure the lowest paid job is better than been on benefits

    Investing in infrastructure

    Cutting waste in government and stop paying MP's expenses and councillors- they should take the bus and trains rather than taxi's or chauffeured cars so they can travel like their constituents do - the government waste £31 billion a year in 'rip-off contracts'
    • Thread Starter
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    An automatic fine for all prisoners ( in relation to the crime they commit and how long the government will be having to pay to imprison them)
    Stop spending over twice as much on prison food than on NHS patients. No prison TVs

    With the some of the money saves/raised used to fund better rehabilitation programmes

    Leave the EU -saving at LEAST £48 million a day
    Offline

    12
    You can't make a point and quote the Daily Mail to back it up, just no

    In terms of the economy I would raise the tax free allowance to about £12,000 and lower VAT as our economy is pretty much based around consumerism
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    12
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    Get rid of the three main parties?
    • Thread Starter
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    (Original post by Martyn*)
    Get rid of the three main parties?
    UKIP!
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    0
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    Who cares about the economy.. we need more weed.
    • Community Assistant
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    21
    ReputationRep:
    In an ideal world...

    Income Tax - 0-30k - 0%
    Income Tax - 30-60k - 15%
    Income Tax - 60-90k - 30%
    Income Tax - 90k+ - 45%

    Abolish National Insurance.

    Lower VAT to 12.5% on goods below £10000
    Raise VAT to 25% on goods above £10000 (luxury tax)

    .....

    For most low to middle income earners this is a hefty tax cut paid for by lowering the 45% threshold and the luxury tax (don't think it would cover it all though however i'd be able to rustle up something). This tax regime would represent a large freeing of people's incomes.
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    (Original post by a729)
    UKIP!
    I'm afraid not. If UKIP got into power it would merely be New Conservatism, or it would be New Conservative with the green tree replaced by a yellow pound sign.
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    7
    ReputationRep:
    There is no one way, you have to use various combinations.

    The main way to build new affordable energy-efficient homes, broadband to rural areas, transport infrastructure.
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    0
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    Boosting the economy is too vague an aspiration.

    Before we decide on a remedy we first need to define the problem.
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    7
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    (Original post by chefdave)
    Boosting the economy is too vague an aspiration.

    Before we decide on a remedy we first need to define the problem.
    Or another way is to ask these questions:

    How to grow the economy?
    And how to reduce the deficit left by Labour?
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    (Original post by Morgsie)
    Or another way is to ask these questions:

    How to grow the economy?
    And how to reduce the deficit left by Labour?
    I still don't know what you mean by 'growing the economy'.

    What, specificially, are you trying to grow?
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    (Original post by chefdave)
    I still don't know what you mean by 'growing the economy'.

    What, specificially, are you trying to grow?
    The economy is flat-lining at the moment so the economy.

    I am surprised the International dimension has not been mentioned, we must work with the EU, the USA and others to tackle this
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    (Original post by Morgsie)
    The economy is flat-lining at the moment so the economy
    Why should I care about the fortunes of an abstract concept?

    I'm not trying to be difficult, I just want to better understand your core principles.
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    Leave the EU and tax cuts. (Y)
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    7
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    (Original post by Iron Lady)
    Leave the EU and tax cuts. (Y)
    You do realise most of our trade is to the Eurozone
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    (Original post by Morgsie)
    You do realise most of our trade is to the Eurozone
    I like free trade, just not the EU.
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    My simple plan:

    1) Write off the national debt. Tell the investors to go f themselves.

    2) Leave the EU, let those idiots take care of themselves.

    3) Cut military and welfare spending to get a budget surplus.

    4) Spend surplus money on investing in UK industries, to boost long term growth.
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    (Original post by Iron Lady)
    I like free trade, just not the EU.
    I just done an essay on the single market. You need supranational bodies for oversight, regulations etc

    The single market is still not finished so we should be working to get it completed
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    (Original post by MacDaddi)
    You can't make a point and quote the Daily Mail to back it up, just no

    In terms of the economy I would raise the tax free allowance to about £12,000 and lower VAT as our economy is pretty much based around consumerism
    I'm unsure about that, maybe in a boom or recovery period in the economy but currently the Government isn't getting enough taxes to begin with but all I see raising the tax free allowance and lowering VAT will just further decrease Government revenue and won't get nearly enough people spending as hoped.

    To get our recovery moving instead of the flatlined economy we've got now I believe we need to get more businesses investing. It's all well and good cutting corporation tax but if businesses aren't spending then national income will continue to fall, jobs may be lost as businesses are too scared to invest in the current market and who can blame them.
 
 
 
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