If I was Prime Minister...

[garynortheast]

Just take it to the bridge.....

[keith_d]

I'd start by reforming several key parts of our government finances.

1) Simplify the tax system. Everyone earning more than £25k pays basic rate, above 100k higher rate. Thresholds to be index linked. No loopholes, no allowances, no special cases. If the government wants to encourage an activity it should use explicit payments, not fudge the tax system. This creates the wrong kind of incentives.

2) Merge national insurance and income tax. There's no benefit to having two income taxes. It just creates unnecessary paperwork for both employer and government.

3) Get rid of vehicle duty, and tax fuel based on fossil carbon content. So if you pollute more you pay more. That would make running a vehicle on renewable fuel almost tax free (only VAT on fuel). Vehicles bringing more than 100 litres in from abroad would pay duty on whole amount.

4) Flat tax per unit on booze, again no special cases and index linked. Ban on selling for less than the tax. Similar regime for tobacco.

5) GDP linked cap on government borrowing, which includes pensions, contingent liabilities and local government borrowing. The current pension arrangements (both local government and civil service) are effectively a vast government overspend which they don't account for in any meaningful way.

[Luckypants]

I'd vote keith_d!

[andrewsmith]

Originally Posted by Luckypants

I'd vote keith_d!

Seconded

Keith while your on make bikes tax free

[keith_d]

Originally Posted by andrewsmith

Seconded

Keith while your on make bikes tax free

See item 3. All vehicles are tax free, you just pay tax on the fossil fuel you use.

Taxes should be:

a) simple
b) hard to avoid
c) easy to collect

[ophic]

but if you make things simple, you'll put at least 50,000 people out of work!

[Bibio]

only thing i disagree with Keith is higher rate of tax for high earners over 100k. why should they pay more, think about it if someone is getting paid £100k they are already paying in more tax than someone earning £40k.

0-6k = 0%
6-12k = 10%
12-18k = 15%
18k> = 20%

i would also do away with rebates of VAT and Duty for business. why should a business get a rebates when workers cant on such things as fuel. only exemption to this would be raw materials for manufacturing and trades and the company will have to have a VAT exemption certificate and when buying raw materials they wont be charged VAT at source.

raise company profit tax in line with personal allowances.

i would also reclassify VAT on a lot of the goods that i would consider a necessity in this day and age, such things as washing machines and sanitary towels for instance.

raise base rate interest rates to 5% but cap high street rates to 20% on any borrowing inc credit cards, finance, 'pay day' loans etc.etc

ban adverts for gambling.

[Littlepeahead]

How about increasing VAT on unhealthy food and decreasing it on things like fresh fruit and veg, dried pulses, etc. Make it cheaper for people to eat healthy food.

I know there would still be plenty of people getting fat and moaning that they haven't got the time and inclination to cook, but I think a lot of that is down to education.

My nan taught me to cook, I also then went on to study food and nutrition at O'Level which I really enjoyed but that was optional. A bit like being able to change a plug or a car tyre or a tap washer, if you don't learn at school and your parents never learnt at school we will grow with generation after generation of useless people who can operate a mobile but not an oven. So I'd re-start practical lessons at school.

[Bibio]

ermmm i think i would have 0% on all foods thanks.

[maviczap]

Originally Posted by keith_d

I'd start by reforming several key parts of our government finances.

1) Simplify the tax system. Everyone earning more than £25k pays basic rate, above 100k higher rate. Thresholds to be index linked. No loopholes, no allowances, no special cases. If the government wants to encourage an activity it should use explicit payments, not fudge the tax system. This creates the wrong kind of incentives.

2) Merge national insurance and income tax. There's no benefit to having two income taxes. It just creates unnecessary paperwork for both employer and government.

3) Get rid of vehicle duty, and tax fuel based on fossil carbon content. So if you pollute more you pay more. That would make running a vehicle on renewable fuel almost tax free (only VAT on fuel). Vehicles bringing more than 100 litres in from abroad would pay duty on whole amount.

4) Flat tax per unit on booze, again no special cases and index linked. Ban on selling for less than the tax. Similar regime for tobacco.

5) GDP linked cap on government borrowing, which includes pensions, contingent liabilities and local government borrowing. The current pension arrangements (both local government and civil service) are effectively a vast government overspend which they don't account for in any meaningful way.

Sorry far too sensible