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    Imagine you had to balance the 2009-2010 Public Spending using the figures from here
    http://www.debtbombshell.com/public-spending.htm

    and no borrowing was allowed, how would you go about it ?
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    (Original post by reciproversexclu)
    Imagine you had to balance the 2009-2010 Public Spending using the figures from here
    http://www.debtbombshell.com/public-spending.htm

    and no borrowing was allowed, how would you go about it ?
    My plans would be on top of what the current government has done.

    Reduce corporation tax to around 15% for businesses with revenue over £1m, 10% for £750k - £1m, and 5% for anything over £150,000k. The idea would be lower corporation taxes would make companies more wiling to pay them instead of fleeing abroad, and would attract foreign firms to set up head office in the UK bringing jobs. With lower taxes business activites would become more profitable and companies would be willing to invest creating more jobs. The lower taxes help small businesses grow.

    All benefits apart from pensions would see a 5% cut. The saved money would be invested in training to make sure more people have a skill or trade. People earning under £20k would pay no tax. People earning £20k - £50k would pay 40% and over £60k would be 45%. National insurance would be scrapped (it wouldn't be 'merged' with IT as that would lead to the issue of how exemptions are taken into account, it would be scrapped).

    All government departments apart from Education, Defence and the NHS would see a 10% cut in budget. I'm Eurosceptic so I would support leaving and saving that money, I would also scrap all foreign aid until we have a budget surplus. The NHS would have restrictions put in place covering what it will and will not cover. Tighter restrictions would eliminate the cases of 'boob job mum' and whatever else (how much this saves I don't know but it's the principle). VAT would be increased by 2%.

    I don't know how my plans would affect the budget but the idea is, lower taxes regarding business and income encourage spending so instead of fighting a deficit by cutting it dramatically, it's faught by slightly cutting it and increasing GDP.

    If I couldn't spend at all and a surplus had to come in 1 year, I would go down the table in the order it's listed at your source and just knock 3% off each budget for the department (minus defence). Depending on the deficit left, I would repeat the process and take off another 3% and so on until it's cacelled out [note welfare would see a 5% cut each time].
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    (Original post by reciproversexclu)
    Imagine you had to balance the 2009-2010 Public Spending using the figures from here
    http://www.debtbombshell.com/public-spending.htm

    and no borrowing was allowed, how would you go about it ?
    If no borrowing was aloud then the cuts required to do wipe out an 11% deficit in a single year would destroy the economy and cause rampant deflation, that's if they worked at all.

    My plan to wipe it out over a number of years in addition to the coalition plans would be to abolish foreign aid, cap all means testing at 60k per annum and require all people earning over 60k to have private health and education insurance.

    In addition to my spending cuts above (saving at least 30bn) I would restructure the tax system by firstly lowering the 45% threshold to 100k and using the revenue to raise the tax threshold to 24k with a 30% and 40% tax rate replacing the current 32% and 42% when national insurance is taken into account. I would keep corporation tax at 20% but abolish business rates. I would replace small green taxes and vat on energy bills with a carbon tax on production. I would lower VAT to the EU minimum for goods under 100 but have it at double that rate for goods costing more.

    Finally, to generate employment and growth where its needed I would over the course of the next decade allocate an additional 10bn each for housing, transport and energy infrastructure.

    Finally I would have a national prospecting company analyze every square inch of the UK and mine the resources for export.
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    Abolish the welfare state completely.
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    (Original post by Sanctimonious)
    Abolish the welfare state completely.

    Yeah screw those severely disabled people who can't work, let's just leave them to die. :rolleyes:
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    Political Ambassador
    Slash benefits and reallocate resources to stimulate job growth and actually make people want to work
    Reduce spending on prisons, reduce standards drastically (which should also cut crime rates) and bring back forced labour in prisons.
    Increase spending on policing and make them actually do their jobs properly, especially with respect to motorists, I don't know how many idiots I see breaking traffic laws, so at least in the short term generate extra revenues there.
    Reduce funding devolved to Scotland, clearly they have too much if they can afford to fully subsidise Universities.
    Introduce payments for NHS services where used unnecessarily or when severely self inflicted (such as injuries due to excessive alcohol consumption or smoking)
    Revoke University statement from the crap places offering very few proper degrees to cut SFE spending
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    The most sensible approach is probably to raise taxes, and then keep expenditures fixed as much as possible in real terms. This would result in a steadily reducing tax burden as a percentage of GDP. Non-means tested payments or provision in kind (including education and health) should also be made means tested to the greatest extent possible. The state pension should gradually become means tested, too.
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    (Original post by SophieSmall)
    Yeah screw those severely disabled people who can't work, let's just leave them to die. :rolleyes:
    I am disabled and I can work. Who are you telling people like me we cant work? You instantly assume because we've got a disability we cant work? Disgusting.
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    (Original post by Sanctimonious)
    I am disabled and I can work. Who are you telling people like me we cant work? You instantly assume because we've got a disability we cant work? Disgusting.
    I said severely disabled people, I am not clumping all disabled people into one group as obviously some can work and obviously some can't.
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    (Original post by SophieSmall)
    I said severely disabled people, I am not clumping all disabled people into one group as obviously some can work and obviously some can't.
    Describe a severely disabled person please.......Even someone in a wheelchair can perform administrative tasks. Your discrimination is offensive to me to be quite honest.
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    (Original post by Sanctimonious)
    Describe a severely disabled person please.......Even someone in a wheelchair can perform administrative tasks. Your discrimination is offensive to me to be quite honest.
    Someone who cannot take care of themselves or perform in a job, for example someone with locked in syndrome, someone with very low functioning autism who cannot take care of themselves or perform every day tasks let alone work, someone with advanced ALS, someone with advanced dementia or Parkinson's ect. Someone with severe schizophrenia who is not responding to anti psychotics. There are many other illnesses (in differing degrees and severity) that cause someone to be unable to work in basically every setting.

    I'm not discriminating anyone, stop being facetious . I am in no way being offensive, it is plainly obvious that there will always be people who literally cannot work due to their disabilities this does not mean that all disabled people cannot work this again is plainly obvious
 
 
 
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