Britain and its economic policy

[Anarcho-Socialist]

Where do you think Britain should go from here, in it's taxation levels and in the amount it spends/invests in public services?

Feel free to add any comments if you choose to.

[muriel_volestrangler]

1. increase taxes to balance budget, keep investment the same

with one proviso: all current PFI projects should be reviewed, and an honest evaluation done for future ones, so that PFI is only used when it is genuinely better value than public finance (unlikely, since the government can borrow money cheaper than banks, and the current lot seem to end up with the public assuming the risk anyway). This may mean the apparent level of public borrowing goes up, because PFI is also used to make it look as though the government is borrowing less for the future funding of schools, hospitals etc. But in reality, there are future obligations being run up, almost certainly more expensive than the public borrowing would be.

[non sociopath skin]

2. I agree, Mu.

The government has been somewhat devious in covering up the real on-costs of PFI.

The problem with this damn country, of course, is that everyone wants both low taxes and improved services, so party policies are often drawn up with a view to what can be "sold" to the electorate of rather than offering a political, social or even fiscal vision.

The Skin

[Vladimir]

3. That, I am afraid, is the problem in liberal democracies everywhere

bring back sortition I say!

[Zuni]

4. Increase taxes to balance budget and invest the same

In the United States, we have a huge budget problem. We need to vastly increase taxes on the top brackets and eliminate the defecits, as well as add social spending, while cutting irrelevant spending and wasteful budget items.
I would even say the US has to nationalise some industry, particularly the defense and health care industries (to an extent--not completely)
In the UK, with a larger percentage of social spending---keep it the same for now and concentrate on balancing the budget.

[Anarcho-Socialist]

5. Nice to see you in the UK forum, Zuni

:hi:

[Zuni]

6. Thanks for the invitation

Very interested in what is going on across the pond, mate
:think:

:hi: