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Old 16-08-2009, 21:21   #29
chris9991
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Join Date: Mar 2007
Posts: 716
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Re: You are Prime Minister...

1 Abolish distinction between personal capital gains and labour gains.

Currently there is a separate allowance for capital gains, for which only those with assets can benefit from. I would scrap this allowance and increase the income tax allowance by the same value. Whilst at the same time, I would scrap the distinction between National Insurance and Income tax and have just one rate but with a view to eventually reducing it to a low percentage.

At the same time I would eliminate the capital gains tax exemption on residential houses as this currently exaggerates the swings in the housing market and if people have to sell their house at a loss, at least a rebate from the government would enable them to start afresh.

Consumption taxes would be increased where needed to fund changes but not on zero rated essentials. This would mean that the wealthy would have to pay more tax, rather than use some elaborate tax dodge to avoid paying.

2 Be friendly to Russia

Don't want to be, but it will become more important in the future to keep energy supplies flowing.

3 Make prison sentences minimum not maximum

At the same time prisons would offer living conditions which give them the bare level required as per human rights - something like POWs have

If a prisoner, on release re-offends then they also have to serve their previous sentence as they haven't been rehabilitated enough
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