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House Price Crash Forum

Economic Recovery

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The Political consensus of opinion is weighted towards either Tax rises, spending cuts or a mixture of both.

Is there an alternative.

Here are a few suggestions to get your teeth in to.

Abolish PAYE:- release employees and employers from this tax, this tax was a wartime measure and in my opinion the benefits are outweighed by the cost of collection and avoidance schemes. A lot of otherwise productive man hours are consumed by this taxation class.

The principal of taxing earnings at source is regressive and punitive, it stifles enterprise and creates a disincentive when other alternatives such as welfare are available.

Instead, lets tax consumption, in this way those with money to spare can spend freely on luxury items, and those who are strapped for cash or over committed can concentrate on handling their priorities without aid from the state.

Similarly, abolish NIC from employers/employess and replace this with a transparent investment and give the client some control over this investment. This measure would reduce employer costs, hamper government interference in your pension arrangements and if extended to, possibly your welfare support.

Reform planning at local government level to give a greater incentive for new enterprise with an emphasis on Green technology. Use the planning system to promote this new industry.

just a few ideas, what do you think?

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What a stupid idea. I am not sure if you are suggesting we abolish income tax or just the PAYE element but PAYE saves a huge amount of compliance and avoidance. It means that most taxpayers don't have to do a tax return and it means that lower paid individuals wouldn't get to the tax payment points and realise they had no money.

If you are suggesting abolishing income tax altogether in favour of increasing VAT and the like, it wouldn't work as they would be too expensive ie huge rate maybe even as high as 200% no one would buy and we slump into depression.

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