No I sadly do not think he is up to it - although he has done well to keep us out of the American/Israeli war - but we need to make changes like taxing those with broadest shoulders more and by this I do not means those hard working individuals that earn £100/200 thousand a year as they are taxed enough. We do need to get those very wealthy individuals who have huge wealth to take more of a share of the burden. I wish I had a better idea but I do not sadly!
Because as a tory-lite, right of centre party, very largely controlled by an autocrat with double standards, they're enthralled to the coporate, and establishment classes, as well as to a large extent, the upper classes, as money not only pays the Bandmaster; it controls the tune ...
Great piece as usual Zoe - don’t be ashamed of the sporting metaphors either - it’s something I talk about a bit - not so much missing 100% of the shots you don’t take (although I like that) but the idea the state needs to be a coach as opposed to a referee. Government needs to take a more active role in investment and driving performance. It’s not just about money for me but about direction and vision. There are some genuinely good things the government is doing but as you say it feels like a lot of tinkering because it doesn’t appear focussed on (apologies for another sporting metaphors) winning the “trophy” which is for me a more equal society which gives people the freedom to live their lives.
Starmer has missed the bus on raising taxes significantly. Had he have done it immediately after he came into power he could have limited the ongoing problems. This is what the Tories did in 1979 when t they increased VAT from 8% to 15%.
TAX excessive wealth out of existence, stop taxing shrinking value wages.
The richest are 3x richer than 10 years ago. They own nearly all the assets and are stripping the 99% of the last assets they have. REVERSE IT to benefit all. If not the poor will literally have to eat the rich to survive. TAX AI on the basis of the full added wages of all the people it replaces or would have replaced for the work it does.
Engaging piece Zoe. I am new to your Substack posts but ‘I’ll be back.’ !!
You’re spot on. Starmer said when elected that they were ready for office and Government. They said, they would hit the ground running! Well… they just hit the ground!
But to be honest, no government has ever got it right. None have had a clue how to govern and make us a better fairer more productive society. It’s always been a struggle in my lifetime and I’m in my 60s.
I’m afraid to say that more tax is not the answer. And cutting our governments SPENDING is not going to fix anything. We have had austerity since the crash and that’s not got us anywhere.
Starmer had no vision. He just thought he could turn up and all will be well. He maybe good lawyer, but he is not a good PM. And as for our Chancellor, well I can only think that they have both Been promoted to a level of incompetence! I can’t help thinking that.
To be honest, orthodox doctrine says we must cut costs. Cut borrowing and balance the books. But that’s just defeatist. You can’t run a country like a household budget. Two dimensional money in, money out. We have to think bigger. Instead of living beyond our means, we need to increase our means Zoe.
But first I need to get across how our present system fails us.
Firstly we see that, the rich get richer whilst we all get poorer paying for it! This is at the heart of our problems. Excuse our system allows money, not wealth, money to be held onto. And for a very long time.
This effectively makes our working pot devoid of its use. We are all trying to work with less and less of our money available. That’s why we are short of money if we hear “ there’s no money around”.
As we see that the rich get richer we see our pot decreasing. And as our revenues reduce so does our ability to supply sufficient taxation to our Government. In essence we are underfunded and do we underfund our Government.
Not only does the rich not have to SPEND their incomes, they pay NO tax on that UNSPENT money. None! And the more they get the less they need to SPEND back. So much do they don’t! They realise it’s much more lucrative to LEND us back that money than just SPEND it back. Again, so much so that they now have so much money that our Governments are borrowing it! That’s his skewed our system is.
Secondly, our whole tax system is based on SPENDING. Even income tax snd vat are ‘triggered’ by the SPENDING of their employer paying the wages of the employee! The same with NIC. Despite it having ‘income’ in the heading and despite the worker is liable for them and despite the fact that it’s calculated on wages both taxes are in fact paid by employers! And that is paid from the SPENDING of that businesses customers and consumers SPENDING their money!
So when you consider, Vat snd Duty that are as a direct result of SPENDING then you can begin to realise all our taxes are TRIGGERED by SPENDING!
Even Council tax is a result if an order to SPEND. Stamp duty is a result of SPENDING and so on!
So if we want our government to gain more in taxes then it follows we must SPEND more. And to SPEND more then we need ALL our MONEY in play and not sidelined, UNSPENT idle or unused.
So Zoe, there you have the problems. An archaic monetary system that allows those with too much money to sit on it, and for a very long time …. Forever! And a tax system that doesent tax UNSPENT money they lay idle. And guess who are those with enough money to lend a government? Yes you’ve got it the rich who are the ones who make us devoid of it and rather LEND it than SPEND it.
That effect makes us poorer by having to its back those debts whilst our governments do nothing!
This situation isn’t just unfair it’s undemocratic. The few are holding the majority to ransom whilst our governments are not just the same team who have skin in the game but, are referee and write the bloody rule book and still they are that stupid and that inept to see it or to anything about it! Thats incompetence!
So Zoe, it’s no good to tax them, it’s not ever going to be enough. We need to make them SPEND it back.
Any working economy can only survive if money flows. We need a sure fire way to ensure that all money returns around snd around time snd time again. Not once! From a tax. But 100% of it moving all of the time. That’s the only way we get GROWTH.
Our economy can’t grow without its money returning to the economic pot from which we all feed. It explains the stagnation we have had to suffer for decades.
I have a swift and easy remedy. And we can use our new payment card system and internet banking.
I would suggest we swap all money now, coin notes and digital for a new digital only currency, in house in Uk only.
Then put a SPEND by DATE on that income. Use it or lose it! SPEND it or have it taken by central government to SPEND.
This tsunami if SPENDING will constantly ensure a vast money supply to us all. It will give us the higher revenue stream we need. It ensures a vast tax take also. It will give us all higher wages, a proper state pension snd ensure business has plenty of punters! Sorry buyers! Either way SPENDING gets more money for all.
Ironically, Even the rich get richer! Not from holding money but from the goods assets and services supplied when they SPEND it!
Zoe, we have always had a CASH FLOW problem. It’s never been any different. We still have! We need money to flow faster and in more weight.
Apparently there is £19 trillion pounds out there in the aether. If that were to be SPENT just once. In one whole year only. It should bring in £3.8 trillion pounds in tax take on VAT alone.
That’s FOUR times our puny present tax take of £1.1 trillion pounds on all taxation.
That’s his to get growth! Thats his to fix our economy. We can at last fill our potholes or build schools honestly and warships! From getting our cash flowing in such amounts and in such a fast time that we can afford anything!
No I sadly do not think he is up to it - although he has done well to keep us out of the American/Israeli war - but we need to make changes like taxing those with broadest shoulders more and by this I do not means those hard working individuals that earn £100/200 thousand a year as they are taxed enough. We do need to get those very wealthy individuals who have huge wealth to take more of a share of the burden. I wish I had a better idea but I do not sadly!
Agree! Is Starmer up to it? Everything we've seen so far suggests not.
Because as a tory-lite, right of centre party, very largely controlled by an autocrat with double standards, they're enthralled to the coporate, and establishment classes, as well as to a large extent, the upper classes, as money not only pays the Bandmaster; it controls the tune ...
Great piece as usual Zoe - don’t be ashamed of the sporting metaphors either - it’s something I talk about a bit - not so much missing 100% of the shots you don’t take (although I like that) but the idea the state needs to be a coach as opposed to a referee. Government needs to take a more active role in investment and driving performance. It’s not just about money for me but about direction and vision. There are some genuinely good things the government is doing but as you say it feels like a lot of tinkering because it doesn’t appear focussed on (apologies for another sporting metaphors) winning the “trophy” which is for me a more equal society which gives people the freedom to live their lives.
Starmer has missed the bus on raising taxes significantly. Had he have done it immediately after he came into power he could have limited the ongoing problems. This is what the Tories did in 1979 when t they increased VAT from 8% to 15%.
TAX excessive wealth out of existence, stop taxing shrinking value wages.
The richest are 3x richer than 10 years ago. They own nearly all the assets and are stripping the 99% of the last assets they have. REVERSE IT to benefit all. If not the poor will literally have to eat the rich to survive. TAX AI on the basis of the full added wages of all the people it replaces or would have replaced for the work it does.
Engaging piece Zoe. I am new to your Substack posts but ‘I’ll be back.’ !!
You’re spot on. Starmer said when elected that they were ready for office and Government. They said, they would hit the ground running! Well… they just hit the ground!
But to be honest, no government has ever got it right. None have had a clue how to govern and make us a better fairer more productive society. It’s always been a struggle in my lifetime and I’m in my 60s.
I’m afraid to say that more tax is not the answer. And cutting our governments SPENDING is not going to fix anything. We have had austerity since the crash and that’s not got us anywhere.
Starmer had no vision. He just thought he could turn up and all will be well. He maybe good lawyer, but he is not a good PM. And as for our Chancellor, well I can only think that they have both Been promoted to a level of incompetence! I can’t help thinking that.
To be honest, orthodox doctrine says we must cut costs. Cut borrowing and balance the books. But that’s just defeatist. You can’t run a country like a household budget. Two dimensional money in, money out. We have to think bigger. Instead of living beyond our means, we need to increase our means Zoe.
But first I need to get across how our present system fails us.
Firstly we see that, the rich get richer whilst we all get poorer paying for it! This is at the heart of our problems. Excuse our system allows money, not wealth, money to be held onto. And for a very long time.
This effectively makes our working pot devoid of its use. We are all trying to work with less and less of our money available. That’s why we are short of money if we hear “ there’s no money around”.
As we see that the rich get richer we see our pot decreasing. And as our revenues reduce so does our ability to supply sufficient taxation to our Government. In essence we are underfunded and do we underfund our Government.
Not only does the rich not have to SPEND their incomes, they pay NO tax on that UNSPENT money. None! And the more they get the less they need to SPEND back. So much do they don’t! They realise it’s much more lucrative to LEND us back that money than just SPEND it back. Again, so much so that they now have so much money that our Governments are borrowing it! That’s his skewed our system is.
Secondly, our whole tax system is based on SPENDING. Even income tax snd vat are ‘triggered’ by the SPENDING of their employer paying the wages of the employee! The same with NIC. Despite it having ‘income’ in the heading and despite the worker is liable for them and despite the fact that it’s calculated on wages both taxes are in fact paid by employers! And that is paid from the SPENDING of that businesses customers and consumers SPENDING their money!
So when you consider, Vat snd Duty that are as a direct result of SPENDING then you can begin to realise all our taxes are TRIGGERED by SPENDING!
Even Council tax is a result if an order to SPEND. Stamp duty is a result of SPENDING and so on!
So if we want our government to gain more in taxes then it follows we must SPEND more. And to SPEND more then we need ALL our MONEY in play and not sidelined, UNSPENT idle or unused.
So Zoe, there you have the problems. An archaic monetary system that allows those with too much money to sit on it, and for a very long time …. Forever! And a tax system that doesent tax UNSPENT money they lay idle. And guess who are those with enough money to lend a government? Yes you’ve got it the rich who are the ones who make us devoid of it and rather LEND it than SPEND it.
That effect makes us poorer by having to its back those debts whilst our governments do nothing!
This situation isn’t just unfair it’s undemocratic. The few are holding the majority to ransom whilst our governments are not just the same team who have skin in the game but, are referee and write the bloody rule book and still they are that stupid and that inept to see it or to anything about it! Thats incompetence!
So Zoe, it’s no good to tax them, it’s not ever going to be enough. We need to make them SPEND it back.
Any working economy can only survive if money flows. We need a sure fire way to ensure that all money returns around snd around time snd time again. Not once! From a tax. But 100% of it moving all of the time. That’s the only way we get GROWTH.
Our economy can’t grow without its money returning to the economic pot from which we all feed. It explains the stagnation we have had to suffer for decades.
I have a swift and easy remedy. And we can use our new payment card system and internet banking.
I would suggest we swap all money now, coin notes and digital for a new digital only currency, in house in Uk only.
Then put a SPEND by DATE on that income. Use it or lose it! SPEND it or have it taken by central government to SPEND.
This tsunami if SPENDING will constantly ensure a vast money supply to us all. It will give us the higher revenue stream we need. It ensures a vast tax take also. It will give us all higher wages, a proper state pension snd ensure business has plenty of punters! Sorry buyers! Either way SPENDING gets more money for all.
Ironically, Even the rich get richer! Not from holding money but from the goods assets and services supplied when they SPEND it!
Zoe, we have always had a CASH FLOW problem. It’s never been any different. We still have! We need money to flow faster and in more weight.
Apparently there is £19 trillion pounds out there in the aether. If that were to be SPENT just once. In one whole year only. It should bring in £3.8 trillion pounds in tax take on VAT alone.
That’s FOUR times our puny present tax take of £1.1 trillion pounds on all taxation.
That’s his to get growth! Thats his to fix our economy. We can at last fill our potholes or build schools honestly and warships! From getting our cash flowing in such amounts and in such a fast time that we can afford anything!
No more borrowing for us or Reeves. Ever!