Scrap VAT & bring in a 5% sales tax for independent retailers which goes to the local council, a 10% sales tax on supermarkets & chain stores which goes to the county council & 15% sales tax Internet sales which goes to the government.
I think we just need one tax. This is more honest than having a sales tax, a fuel duty, corp tax, income tax inheritance tax etc etc. Just onetax and let people see how much of their money the government is taking.
1 Like
Remove it completely, it is stops money moving in the economy, which is what is needed for a economy to correctly function.
2 Likes
If we were to have just one tax, it should be land value tax.
I think about this other way around. Create a compact and responsible government, that doesn’t waste money on excess bureaucracy, foreign aid, illegal immigration, net zero and corruption. Initially reduce VAT to 15% to encourage the economy. The current tax system would then create a massive surplus. This could then be used to initially to fund development of our small businesses, fund apprenticeships and training and invest in infrastructure. Once we get to that stage where the economy is doing well and people are happier with the level of service, if there is still a surplus, let it amass for a while so we have a buffer and then gradually reduce taxes in a structured manner as much as possible.
There’s definitely a conversation to be had about VAT and tax reduction. But until we have an honest conversation about what we as a society are willing to pay for, for each other. Tax reform is just flailing in the dark.
I agree that foreign aid, immigration, net 0 corruption etc are significant, but in order of cost
Welfare - 29%
Health - 20%
Education 11%
Debt interest 10%
We won’t get anywhere near a surplus without significant reform first. For what it’s worth. I’ve always thought the biggest issue with our semi privatised system of doing things is the point at which the state interacts with the private sector. Wherein you have the private sector persuing profits and the state playing with an ‘unlimited’ amout of money.
The state is the idiot that thinks he can play poker getting hustled by card sharks.
2 Likes
Cut corporation tax and NICs right back and scale back employment laws and regulations to stimulate investment and a pro business environment. At the same time, slash welfare to minimal levels - maximum 6 months after which if claimants are not back in work, they need to rely on family and charities. This will force those previously on benefits back into work and into jobs that will have been created thanks to the improved conditions in which businesses can operate.
Use the increased revenues from business, and money saved on welfare, to pay down the debt mountain and to increase spending on defence and education.
