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If you were the PM what would you do to fix the mess we are in?

294 replies

HoppingKangaroo · 28/08/2022 19:59

Just that really, if you were the prime minister what would you do to help fix the country and the cost of living crisis.

OP posts:
Liebig · 28/08/2022 23:18

Nancydrawn · 28/08/2022 23:03

In terms of the pound against the dollar, it should be noted that in times of economic uncertainty, the dollar tends to get stronger, as it's the safest currency in the world. The real key is how a country's doing against other major currencies.

The pound's actually doing okay against the Euro, believe it or not. I mean, much, much, much worse than before Brexit, but better than a lot of 2017/2018. Better against the yen than since before Brexit, too (down massively since Brexit, but still better than 2017/2018).

This doesn't mean the energy situation isn't fucked. It is. Really fucked, and it's problematic because UK salaries are relatively low for the average worker and there's very little leeway.

But the pound's doing not as bad as it could be. If only the UK actually produced any meaningful non-service based exports--we could take real advantage of the low pound. Unfortunately, partly due to Brexit and partly due to supply chain, the UK's number one material export, cars, are at pretty much their lowest point of production in over 25 years.

But yeah, let's keep nattering on about 'cheap labour' and the 'upsides of Brexit.'

Unfortunately, being first move in the start to industrialisation means we shot our load a long time ago. Most of our native resources are nothing next to what the likes of Africa and Asia have, or even the continental United States. This is part of the reason why the UK pawned off its valuable assets to the point where it's just the NHS left to cut up and auction off.

Onedaytherewasapear · 28/08/2022 23:19

Turn up? Ha

Reverse energy cap and stick
Prevent energy companies from making excessive profits and nationalise if they proved incapable (Gordon Brown suggestion)
Significant investment in wind farms and renewable energy
Nationalise the water companies temporarily until the water treatment situation was sorted

For reference i have never advocated for nationalisation of industries until now

Id also prevent the current prime minister from making any further appointments to the HoL

jammywagonwheel · 28/08/2022 23:20

sst1234 · 28/08/2022 21:31

This thread is like reading year 5 economics, if they taught economics in primary school.

Lets start with the economy since the magic money tree aka high taxation, money printing and high borrowing always leads to disaster.

Preferential tax rates for tech and finance startups listing on FTSE. R&D investment above £1bn to be matched by 25% by govt. Incentivise infrastructure investment with tax breaks for projects above £1bn and completing before 2030. 0 tax on creative industries to accelerate the growth of foreign investment in UK based entertainment studios. Accelerate free trade negotiations with China, joining of NAFTA and ASEAN. Relax immigration rules for STEM sectors where incoming workers are earning £50k or more. Give the green light to 3rd runway at Heathrow and find a team that can run this airport effectively. 0 tax on all startups and corporations investing in electric battery manufacturing in the UK.

Target 2% inflation and bake into legislation the following from 2024 - minimum wage to increase to £15 by 2026. Personal allowance to increase to £15k by 2025. Reduce top rate to 40%.

Start shale extraction in the short term, 3 additional Sizewell C sized nuclear power stations to be online by 2028. Accelerate Shetlands isle offshore wind project. Offshore wind expansion to conincide with Decommission of nuclear power stations.

Increase places/funding for teaching and medicine degrees by 25% with the stipulation that candidates need to pay back if they leave before they get a certainpay scale in their professional role or before certain number of years. Remove subsidies from all university education that isn’t STEM and redirect to STEM.

Some good suggestions. Like your thinking

FrippEnos · 28/08/2022 23:22

TheSandwoman · 28/08/2022 23:17

In what context? I am aware they are not the same thank you. 🙄😆 I've referred to both in my posts.

In the context of never having left.

TheSandwoman · 28/08/2022 23:24

So DH & I would each pay less tax if we split up?

Independent taxation was brought in in 1990 and was seen as a huge advance in equality - before this, a married woman’s income was simply part of her husband’s income and taxed as such.

What if DH was a 40% tax payer and I wanted to return to work part time? If we were taxed as a family unit, my £10k pa earnings would be taxed at 40% too

I am aware of the history but it certainly isn't an advance in equality at this point: it huges penalises single parents, almost all of whom are women.

Yes you should pay less tax on your income if you split up as you'd be maintaining a household from a single income, not two.

No, I am proposing that taxes are adjusted for single people, not for couples. They should get the same tax allowance as a couple, not half. All tax thresholds, child benefit thresholds, childcare thresholds etc doubled. They still have very similar outgoings but have to pay it all from one income, this should be reflected in the tax system. The discount on Council Tax should be 50% not 25%.

In the case of single parents they are already responsible for earning all of the money and doing all of the childcare where a two adult household have twice the hours per day to divide it up between them. To then tax them more on the same level of household earnings is obscene.

There is a reason why child poverty is disproportionately located in single adult households. This is the simple and fair solution adopted in most modern countries to mitigate that.

LateOnTheBandwagon · 28/08/2022 23:26

If everything is nationalised how is everyone proposing that pension funds be financed?

TheSandwoman · 28/08/2022 23:26

@FrippEnos

In the context of never having left

I don't understand what you mean. We left both the EU and the single market.

Both pointless. But obviously staying in the single market at least - as many Brexit campaigners promised we would - would have been far less damaging than leaving both.

Flapjacker48 · 28/08/2022 23:30

@Onedaytherewasapear Ok, in a dream world lets say the energy supplier are nationalised tomorrow and we are all supplies by "British energy" - the cost of the gas that said state industry has to buy to supply to householders is STILL at the same record price - so what has been achieved other than spending billions buying companies?

Honestly - do people who keep saying "nationalise" not realise how ridiculous it is and no answer to high bills.

Unphased · 28/08/2022 23:30

TheSandwoman, so by leaving the EU it has cost us 0.3% in inflation, If we rejoined the EU tomorrow how would the UK’s existing situation be any different, what is this unicorn you speak of, plenty in the shops if you feel the need to buy one, Macron is that the one that wanted to switch the electric off to the Channel Islands, wanted to halt vaccines to the U.K. turns a blind eye to the people smugglers, sounds like a friend of the U.K.

FrippEnos · 28/08/2022 23:32

TheSandwoman · 28/08/2022 23:26

@FrippEnos

In the context of never having left

I don't understand what you mean. We left both the EU and the single market.

Both pointless. But obviously staying in the single market at least - as many Brexit campaigners promised we would - would have been far less damaging than leaving both.

Sorry its getting late.

Yes I agree that we could have stayed in the single market and still left the EU. etc.

I was just after clarification because some people think that the two are the same.

madroid · 28/08/2022 23:33

Remove education and NHS planning from the govt so it's properly long term. Reinstate nursing degree bursaries in full.

Renationalise water, gas/elec and rail and Royal Mail.

Windfall tax on BP/Shell and other utility wholesalers

Introduce new bigger personal allowance for lower incomes.

Greed cap - no one earns over 100k pa. And yes they can eff off elsewhere if they're that greedy.

Build council houses - quotas for each council.

All new builds must have solar & ++ insulation & batteries + car charging

Grants for them for all existing households. Which would create jobs for the 1000s who are about to lose them.

Lower rate VAT on goods made in UK (may as well capitalise on Brexit)

Liebig · 28/08/2022 23:33

Flapjacker48 · 28/08/2022 23:30

@Onedaytherewasapear Ok, in a dream world lets say the energy supplier are nationalised tomorrow and we are all supplies by "British energy" - the cost of the gas that said state industry has to buy to supply to householders is STILL at the same record price - so what has been achieved other than spending billions buying companies?

Honestly - do people who keep saying "nationalise" not realise how ridiculous it is and no answer to high bills.

The reasoning is that the money then goes back into the investing needed for the national infrastructure, as opposed to dividends for whichever parties are invested in the company when private.

It won't really change anything in the short to medium term for prices, the gov't would still have to run things and turn a profit or sell bonds etc. It is, of course, far more complex than simply cutting a cheque for buying out all of Shell and BP and Centrica and then saying all bills are now back to 2020 levels.

TheSandwoman · 28/08/2022 23:34

Unphased · 28/08/2022 23:30

TheSandwoman, so by leaving the EU it has cost us 0.3% in inflation, If we rejoined the EU tomorrow how would the UK’s existing situation be any different, what is this unicorn you speak of, plenty in the shops if you feel the need to buy one, Macron is that the one that wanted to switch the electric off to the Channel Islands, wanted to halt vaccines to the U.K. turns a blind eye to the people smugglers, sounds like a friend of the U.K.

0.3%??

You clearly either didn't read my posts or didn't understand them. If you are still living in ostrich land then feel free to carry on. Or, if you don't believe me, you can google to look at the data yourself that I've posted here which shows that the impact is many factors higher than what you have claimed.

The economic illiteracy here is astounding sometimes.

Oh and thanks - still no benefits to list then. Thought not. Even the "Minister for Brexit Opportunities" couldn't come up with a single one, so I'm not exactly shocked.

Onedaytherewasapear · 28/08/2022 23:34

@Flapjacker48 it would put the government in control of price setting and prevent the excessive profits that are being made by companies at the moment. If profits are trebling then the price rises faced by the consumer are not purely down to the price increases.

I also didnt say nationalise them tomorrow.

madroid · 28/08/2022 23:35

@Flapjacker48 Nationalising to stop having private profit & public losses (like what we did with the banks in 2008)

yogz1976 · 28/08/2022 23:35

Basically, do all the things Jeremy Corbyn suggested before he was hounded out of office

TheSandwoman · 28/08/2022 23:38

Sorry its getting late.

No worries. Sorry if I sounded stroppy too, exhausted and off to bed now.

Yes I agree that we could have stayed in the single market and still left the EU. etc.

Shooting onself in the foot only would be preferable to face and foot simultaneously, for sure.

I was just after clarification because some people think that the two are the same.

Scary!! I don't know how we navigate out of any of this mess while a significant proportion of the population are so ignorant. 😔

Liebig · 28/08/2022 23:38

Onedaytherewasapear · 28/08/2022 23:34

@Flapjacker48 it would put the government in control of price setting and prevent the excessive profits that are being made by companies at the moment. If profits are trebling then the price rises faced by the consumer are not purely down to the price increases.

I also didnt say nationalise them tomorrow.

The UK imports 35% of total energy use, so no, it wouldn't change pricing. You would still be exposed to international markets. Again, the gov't either puts this as debt obligations or passes it on to consumers.

Flapjacker48 · 28/08/2022 23:39

@madroid So is actually responsible for NHS/education planning then and how are they accountable to the public?

tulippa · 28/08/2022 23:41

Invest way more into renewable energy. Higher earners cover the cost of the infrastructure/maintenance etc, lower and non-earners get their energy for free. I realise this is not something that could be implemented immediately but surely we could work towards a model like that? Also universal basic income.

Flapjacker48 · 28/08/2022 23:46

@Onedaytherewasapear No it wouldn't, despite the bollocks posted on here, look at the chart of "how your bill is made up" on your next energy statement - the vast amount of the bill is the wholesale cost of energy. So the government can price fix to the cows come home, but in the end someone has to cover the actual cost of the gas - the users, or the government (i.e taxpayers) via subsidies.

Flapjacker48 · 28/08/2022 23:48

@tulippa Please explain how this massive increase in renewable energy is stored when not needed?

TimeFlysWhenYoureHavingRum · 28/08/2022 23:52

I can't help but notice that the vast majority of the suggestions so far were all in the 2019 Labour manifesto. But aparrently 3 short years ago this was considered "unelectable marxism".
Too late now unfortunately.

absolutelyanythingwilldo · 29/08/2022 00:04

Euthanise anyone and everyone over the age of 70. After the initial mass cull it would be as and when a person turned 70, they would be taken away to be put to sleep. This gives the person and family time to prepare and get their things in order before execution day.

This would free up housing and massively increase average productivity.

Equallength · 29/08/2022 00:09

£20billion raised here. Twenty BILLION.