In a time of great public confusion, of mindless media nattering and pathetic political gesturing, people need a single, strong voice to rise above the crowds and lift them to enlightenment. Well that’s me. I will outline two special measures which are needed now, with regards to economic policy.
A financial incentive for the living wage
When discussing the living wage, it is important to remember that the objections of most middle class debaters are centred around this: that our beloved small businesses will be swamped.
Well that fact is that it doesn’t have to be that way, I’m not proposing any kind of swamping, I merely wish to give the workers their due, and to ensure that people can fend for themselves in financial security. Not only will it be economically sensible, by increasing spending among ordinary people, but it will decrease government spending by lifting thousands out of welfare.
Why not give a tax incentives to businesses which want to provide the Living Wage, it will affectively be taking money out of the government’s coffers and putting it into the workers’ pockets. I would only let this apply to small businesses, corporations will pay it anyway.
A Tobin Tax
Ideas for a new FTT (Financial Transaction Tax), Tobin Tax or Robin Hood Tax, have been played around with for quite a while now. As a nation we are in debt, why not balance the budgets by taking money from those who caused the crisis rather from those who had nothing to do with it? Through taxing Derivative trading, it will also help to stabilise the city, and to discourage the sort of reckless behaviour which caused the crash. Such a slight amount, (0.05%) will hardly cause Armageddon, and so right-wing scaremongering is simply pointless.
These are two sensible proposals which will take us closer to a fair and just society, and there is no tiny detail which right-wing commentators can pick at.