TMP apologises to its many followers for the lack of recent commentary, but the gloom that has descended since it became apparent that the Coalition is not actively trying to roll back 13 years of socialist misrule, but merely add to it all, is just too depressing. However, an occasion like the budget demands some comment.Always start from the indisputable fact that individuals will always spend their own money more wisely than any civil servant. I would much rather leave the money with the individuals to spend in the economy and introduce a 40% luxury VAT rate on things like cars over £30k, for example.
Regular VAT needs to be got back to 10% somehow. We could easily afford to cull 30% of the civil service and would notice almost no consequences.
Also we have to charge a sensible amount for use of the NHS to filter out the time wasters. Those with free prescriptions still bother their doctors for things like paracetamol prescriptions to save 50p. A refundable £30 flat rate fee to see the quack or attend A&E would encourage people to be more selective and take their own splinters out.
Given that A&E waiting seems to be frequently over 2 hours, could we perhaps install facilities for this time to be spent productively. Cycle powered generators for example? Only 20% of the punters seem to have leg injuries, and most people come accompanied by an able bodied minder..
Serious offshore operators like the Barclay twins salve their consciences by (relatively) modest charitable donations that are a fraction of the tax they have avoided - and this buys them specious knighthoods! So put the cost of knighthoods and peerage up. £400k for a baron is peanuts, £10m at least.
However, the real targets should now be the manipulative IT behemoths like Google, Paypal, Amazon, Ebay, Cisco and Microsoft. And backdate it to 1980 when it all kicked off.
Just imagine what a boost to the UK economy if all of those took umbrage at being properly taxed like a UK business, and stopped dealing with UK customers - so that UK start-ups were given the chance to fill the voids.
Ideally we need to aim at a flat rate 20% tax on everything - which would result in a lot more cash in the active economy, and would almost certainly revive the entire shebang (a technical economist's term).
More of the same old failed tactics of the past 60 years from the same of failed economists and witless politicians will not help.