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What can be done to prevent an economic implosion?


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One of my wildest suggestions is to shut down the internet for 4 weeks - this would create demand in retail shops and at least stop all those folk walking around glued to screens. I do realise however that it can't be done - for one thing, people need it now for banking (Banking)...

Huge construction works? Change the roads so we drive on the right, just to create work? Bury gold in a mass web search game?

What out-of-the box ideas can help us now?

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4 minutes ago, longgone said:

The 1% give the 99% their cash and assets.

 

Was going to say the same. Bezos, Zuck, Buffet, The Koch Bros, The Walmart lot, all take a haircut and we have a worldwide redistribution of wealth.

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1 minute ago, ticket2ride said:

Was going to say the same. Bezos, Zuck, Buffet, The Koch Bros, The Walmart lot, all take a haircut and we have a worldwide redistribution of wealth.

Nice dream. Thing is is the combined wealth of this lot distributed evenly among the plebs going to make much difference.

Like a double shot of XO with too much ice.

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  • Allow work from home in as many jobs as possible.
  • This will encourage people to buy homes in villages and settle there instead of paying a fortune to rent a shoebox in London.
  • This will help rural economy significantly and rural communities will have local jobs.
  • Reduce VAT to 15%.
  • Cut benefits where ever they're misused. This will release some people into workforce and they should be encouraged unless they've serious disability.
  • Give incentives to companies who want to design and manufacture their products in UK .
  • Enforce new land value tax of 0.5% per year. This will release some parcels of land which are lying dormant and not put to use for agriculture.
  • UK should deport illegal migrants instead of putting them in 5 star hotels. Follow Australian model and put illegals into distant island. That'll discourage new illegals from coming here hiding under a truck.
  • Reduce inheritance tax and capital gains tax to flat 15%. This will cause huge number of transactions and will fetch lot of money for government instead of oldies sitting tight on their detached homes.
  • Give incentives and FREE homes to British innovators and scientists who settled abroad and working in foreign companies. We need their brilliance for UK tech and science research. If they've Phd, offer them tax incentives as well. One good innovator can create hundreds of new jobs. They're like diamonds. Don't lose them.
  • Encourage single mums to go to work and recruit single mums into childcare jobs so some single mums can look after children while other single mums can go to work in other jobs. Currently it's a messy benefits system.
  • Give Hong Kong tech talent some opportunities to join major UK tech brands. Need new blood, new ways of approach in our tech and science. Allow them to settle in UK as long as they're not CCP pawns not pretending to be victims of CCP.
  • UK agriculture and food exports should explore new markets like Asian cities where people are ready to pay more money for organic and good quality food.
  • UK retail brands should focus more on emerging asian economies and middle class whose purchasing power is on upwards trajectory.
  • Will be great if UK can focus more to have free trade agreements with countries like Canada.
  • Check if UK can export North Sea Oil to energy hungry economies in rest of the world.
  • UK businesses should partner with and tap into Israeli tech companies. This will be good value addition.
  • Check with those countries with whom UK has double tax treaties to enforce some tax on offshore shell companies who are hiding billions of wealth in UK property.
  • UK should focus on exporting more high end products to South America.
  • Government should make it compulsory for those on benefits deemed to be physically and mentally fit enough to register in skills training in those careers where there is skills shortage (including nursing, elderly care, child care, pharmacists, plumbers, agriculture, cleaning and any other profession where not enough local people are joining)

 

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Retirement at 65 if obtained full stamps, 67 without.

Compulsory 2 years National Community Service 16-18yrs if left education at 16yrs.

4 day week x 8 hours.

5% NI surcharge for all immigrants aged >25yrs beginning work in the U.K. 

Compulsory ID Cards and increased fines if housing or employing illegal workers.

Surcharge of +50%, 75% & 100% on purchase of 2nd, 3rd, or 4th homes.

I have another hundred or so ideas...

Edited by Blink
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4 hours ago, Trampa501 said:

One of my wildest suggestions is to shut down the internet for 4 weeks - this would create demand in retail shops and at least stop all those folk walking around glued to screens. I do realise however that it can't be done - for one thing, people need it now for banking (Banking)...

Huge construction works? Change the roads so we drive on the right, just to create work? Bury gold in a mass web search game?

What out-of-the box ideas can help us now?

Build good quality social housing and houses.

Thereby freeing capital for spending as rents are lowered.

House prices are lowered but thereby mortgage payments are lowered for new entrants.

Give ACOBA and SFO more powers and resources and HMRC given new resources to chase asset speculators

won't happen though; too many vested interests

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4 hours ago, longgone said:

The 1% give the 99% their cash and assets.

 

Audit the offshore tax havens. PROPERLY.

Of Tax them an extra 10 percent. Spend on housing, and infrastructure. Introduce civil service eform and widen diverse recruitment (No, not idPol.)

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Yeah if people didn't have to spend so much money on 10x mortgages and ridiculous rents, they would have more money to spend in the economy.  The housing market in the UK has sucked the life out of everything.  It's like a fooking black hole that sucks up all hard work and money and what's left isn't worth a toss.

The UK is well and truely fooked until we provide decent, affordable accomodation for 99% of the population.

It's fecking obvious, but the pr1cks in charge are balls deep in this housing market cess pit...........so we're fooked.

Edited by Social Justice League
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4 hours ago, Trampa501 said:

One of my wildest suggestions is to shut down the internet for 4 weeks - this would create demand in retail shops

I'd say the opposite - shut down about 80% of the physical retail space and redeploy as housing.  We don't need physical retail any more.  COVID has sped up the inevitable.

4 hours ago, longgone said:

The 1% give the 99% their cash and assets.

Jeff Bezos's $188 billion spread across the world's 7 billion population is an extra $26 each.  Every little helps I guess, but a one off boost even from a lot of 1%ers like that doesn't make a long term difference.

The main problem in the UK is the scandalous cost of housing, that's why this website exists.  Get that back to a reasonable figure and many of the other problems solve themselves.

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26 minutes ago, scottbeard said:

Jeff Bezos's $188 billion spread across the world's 7 billion population is an extra $26 each. 

Knowing Mr Bezos, he'd actually do that on the condition that it must be spent, and spent at Amazon. 

Anyway, my out of the box suggestion is slapping a 50% vape tax on vapes, twit tests, where if you're judged to be a twit you're then fined £1000, VAT on tweeting, and 10 x the current number of speed cameras. The obvious billions in revenue (from just the twit test alone) could be redistributed as UBI, and price ceilings introduced to prevent the inevitable inflationary effect of UBI. Less inflation = UBI money stretching further = more useless stuff purchased = economic stimulation = implosion averted, no?

EDIT: I didn't type twit! The site auto censored my chosen vowel.

Edited by Orb
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5 hours ago, Simhadri said:
  • Allow work from home in as many jobs as possible.

Good.

5 hours ago, Simhadri said:
  • This will encourage people to buy homes in villages and settle there instead of paying a fortune to rent a shoebox in London.

More HPI in villages where the children of locals already can't afford to buy! Hoorah!

5 hours ago, Simhadri said:
  • This will help rural economy significantly and rural communities will have local jobs.

Except that people will have to move away if they were born there as they won't be able to afford to live there.

5 hours ago, Simhadri said:
  • Reduce VAT to 15%.

And replace it with what? Or which bits of the current state are you intending to close?

5 hours ago, Simhadri said:
  • Cut benefits where ever they're misused.

Having worked on methods to detect benefit fraud, I can tell you that fraud is actually rare.

5 hours ago, Simhadri said:
  • This will release some people into workforce and they should be encouraged unless they've serious disability.

I suspect the coming redundancies will be 'releasing' more than enough people already. I am no sure making poor people poorer will stimulate the economy very much, though.

5 hours ago, Simhadri said:
  • Give incentives to companies who want to design and manufacture their products in UK .

That actually already happens.

5 hours ago, Simhadri said:
  • Enforce new land value tax of 0.5% per year. This will release some parcels of land which are lying dormant and not put to use for agriculture.

Is this all land? What is 'dormant'. Does this include homes?

5 hours ago, Simhadri said:
  • UK should deport illegal migrants instead of putting them in 5 star hotels.

They certainly don't use 5 star hotels and the lot Farage were going on weren't illegal immigrants, but refugees, who are legally able to enter the UK due to refugee status.

 

5 hours ago, Simhadri said:
  • Reduce inheritance tax and capital gains tax to flat 15%. This will cause huge number of transactions and will fetch lot of money for government instead of oldies sitting tight on their detached homes.

More people will die if it is lowered? 

5 hours ago, Simhadri said:
  • Give incentives and FREE homes to British innovators and scientists who settled abroad and working in foreign companies. We need their brilliance for UK tech and science research. If they've Phd, offer them tax incentives as well. One good innovator can create hundreds of new jobs. They're like diamonds. Don't lose them.

Entrepeneurs create jobs, not innovators. They are very different skills, the classic example being Jobs and Wozniak.

5 hours ago, Simhadri said:
  • Encourage single mums to go to work and recruit single mums into childcare jobs so some single mums can look after children while other single mums can go to work in other jobs. Currently it's a messy benefits system.

You do realise this already happens?

5 hours ago, Simhadri said:
  • Give Hong Kong tech talent some opportunities to join major UK tech brands. Need new blood, new ways of approach in our tech and science. Allow them to settle in UK as long as they're not CCP pawns not pretending to be victims of CCP.

There's a lot of tech talent in the UK. The issue is that the wages are too low to convince them to stay.

5 hours ago, Simhadri said:
  • UK agriculture and food exports should explore new markets like Asian cities where people are ready to pay more money for organic and good quality food.

You do realise that Asian cities are a long way away?

5 hours ago, Simhadri said:
  • UK retail brands should focus more on emerging asian economies and middle class whose purchasing power is on upwards trajectory.

They do. The products are made in Asia in many cases, though.

5 hours ago, Simhadri said:
  • Will be great if UK can focus more to have free trade agreements with countries like Canada.

We are just giving up a load of agreements. Canada, for one, has said no agreement until the UK has one with the EU. Australia says much the same thing. So this is wishful thinking.

5 hours ago, Simhadri said:
  • Check if UK can export North Sea Oil to energy hungry economies in rest of the world.

You might want to check the fact that North Sea Oil now only supplies half our oil needs. 

 

5 hours ago, Simhadri said:
  • Check with those countries with whom UK has double tax treaties to enforce some tax on offshore shell companies who are hiding billions of wealth in UK property.

That's not going to happen.

5 hours ago, Simhadri said:
  • UK should focus on exporting more high end products to South America.

Yes, but unfortunately those markets are already well provided for.

5 hours ago, Simhadri said:
  • Government should make it compulsory for those on benefits deemed to be physically and mentally fit enough to register in skills training in those careers where there is skills shortage (including nursing, elderly care, child care, pharmacists, plumbers, agriculture, cleaning and any other profession where not enough local people are joining)

Paid for how? By the 5% cut in VAT? Otherwise, a great idea. I think you might be disappointed at home many years it takes to train to be a pharmacist, though.

 

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3 hours ago, Social Justice League said:

Yeah if people didn't have to spend so much money on 10x mortgages and ridiculous rents, they would have more money to spend in the economy.  The housing market in the UK has sucked the life out of everything.  It's like a fooking black hole that sucks up all hard work and money and what's left isn't worth a toss.

The UK is well and truely fooked until we provide decent, affordable accomodation for 99% of the population.

It's fecking obvious, but the pr1cks in charge are balls deep in this housing market cess pit...........so we're fooked.

Totally agree with this.

 

All of our eggs have been put into someone else’s basket. 

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I'm not sure what can be done, as a lot of the problems with the economy are deeply structural and their are political interests involved. However, I wouldnt write off the high street. A lot of it cannot survive the internet, but then again human beings are social animals who like to get out and about. It should be given every chance to reinvent itself. The problems of high rents and taxes not paid by internet businesses should be addressed.

Remember, high street businesses are run by entrepreneurs. The problem we have in this country is genuine entrepreneurs are not respected. Too much advantage through bank lending, government policy, is geared towards rent seeking behaviour. 

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Offer a form of Basic Income to someone currently working full time who is financially secure and willing to retire early, thus freeing up that job for someone more in need of it.

We've already effectively got a form of Basic Income (UC/TC) for young people who have never worked and never contributed and instead have just sat at home breeding, so why not offer it instead to people who have spent 30 years working and contributing?

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Make it easier for people to retrain or upskill, rather than pay people to stay at home doing nothing, pay them to learn.......give all those who want to learn the place they applied for in university......?

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16 hours ago, Trampa501 said:

One of my wildest suggestions is to shut down the internet for 4 weeks

Lol what a control freak point of view.

Is other people doing what they want really so irritating to you?

There was a popular chap back in the 30s whose view you might find interesting.

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15 hours ago, GodlessEndeavor said:

To start with the big one: cancelling Brexit or doing a sensible soft version of it would be a good start.

4 years and you still can't get over it -LOL!

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  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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