Category Archives: A Voter’s Manifesto

A Voter’s Manifesto (part 5 of 5)

Link to part 1

Link to part 2

Link to part 3

Link to part 4

Education

Education is a tough one for me, as it’s not a sector that I have much experience with or recent exposure to. I am aware that there have been sweeping changes made recently, mostly implemented by Michael Gove, and that they have been hugely unpopular with those who actually work in education and understand the sector far better than either Gove or I do.

In the past, we had universities without tuition fees. Scotland scrapped tuition fees. We should follow Scotland’s lead and return to tuition that is free at the point of use. Yet universities should not be privileged above other forms of education. The recent rise of apprenticeships has been a good thing and continued investment in this area, with post-secondary education funding being split in the proportion of people going to university to those entering apprenticeships.

The start of a child’s education is important, and the closure of many Sure Start centres was a backwards move. This should be reversed, so as to enact and signify a real commitment to the future of our young people.

Education should not be merely about learning facts and rote recall. Any amendments to the syllabus must not be so radical as to disrupt teachers or students. A fair balance must be sought whereby knowledge is valued, but where understanding of how to use facts is also highlighted.

As well as the academic subjects, there must be a recognition of the value of the creative subjects and sports, but no child should be expected to do well in all fields.

Immigration

The recent rise of the far right, including but not limited to, support for the EDL, BNP, UKIP and some portions of the Conservative party, show that there is an appetite for a discussion on immigration. Such a discussion need not be conducted on the same racist terms that its agitators choose to frame the debate in.

Unfortunately it needs to be stated that there should no quotas on either gross or net migration. Any public discussion on the matter must include a proportionate measure of the facts, not speculation, including but not limited to the numbers of migrants, the numbers in work, the number unemployed and their net contribution/cost to the economy.

Tobacco & gambling

Tobacco and gambling provide some little amount of leisure whilst at the same time causing a great level of harm. Profits derived from these industries will be taxed at a flat 90%. This is not intended primarily as a tax-raising measure, but as a deterrent against such corrosive industries that do more harm than good to society.

Culture

For too long, there has been disproportionate spending on the arts focused on London. This needs to be more equitably distributed. However, as it is a non-essential part of the economy, I would not propose any above-inflation increases in funding.

Defence

In the words of Tony Benn, “If you can find the money to kill people, you can find the money to help them.”

Any company which manufactures instruments of death will be subject to a 100% tax on their profits, with those funds ringfenced to the medical treatment of those wounded (both physically and mentally) as a result of war. If this means that they are no longer able to carry on in business, so be it. I would rather spend money on unemployment benefits for a short time than on war.

The nuclear weapons programme, Trident, is to be wound down and eventually scrapped. Yet this should be done gradually, so as to ease the unemployment that will inevitably ensue as a result of this corrective measure. The collective engineering expertise that is currently employed by the defence sector may be gainfully employed elsewhere, not least in the construction of new  power stations, new homes, new transport infrastructure, to name a few.

Concluding remarks

Thus concludes my preliminary sketch of a manifesto. I could go into much more detail on more issues. I have also chosen to not include my more radical ideas as I don’t think they could be realistically implemented in the next parliament. Instead I have opted for optimistic realism rather than pie-in-the-sky thinking. Though no doubt some will think I have opted for the latter.

This has been something of a wishlist. Things I would like to see included in a manifesto which I think I could vote for. But on top of all of these, what I would love to see is an honesty in our politicians that while they will aim for these, that they will fail. No party in my lifetime has successfully met all its targets and fulfilled the promises made in their manifesto. So I will be less inclined to vote for anyone who promises the earth.

Unforeseen circumstances will arise for which there is no manifesto promise, but which needs to be dealt with during the course of the parliament.

The real aim though has been twofold. One has to been to clarify my own thoughts, and indeed I could go on tinkering with this for ages. But the other one is for your benefit. It has been to stimulate thought. You might disagree with me wholly and that’s OK. If it gets you to think and wonder what sort of things you would want to see, then you can get a jump start on the political parties and examine their manifestos with something in mind. If you are a member of a political party, you may even have some say in shaping the policies that end up in a manifesto.

I have not written this in a way that has been designed to persuade. I have not asked that you agree with me. But I would do so on this final point. In a democracy, we should all count equally and be allowed to have our say and to be listened to. We need not be limited in our choices by the options that are presented to us. We can be imaginative in coming up with solutions to the problems we face as a society. If we can present alternatives to our politicians and stand strong in our beliefs, then there is room for democracy to work.

So that’s my manifesto. What’s yours?

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A Voter’s Manifesto (part 4 of 5)

Link to part 1

Link to part 2

Link to part 3

Welfare/Social Security

It should be a principle that in this, one of the wealthiest countries in the world, none should starve. So punitive measures that are taken to remove benefits from those in need will be made illegal. With a level of retrospective action, any such measures which may be shown to have had a significant influence on anyone’s death, either by starvation or suicide, will be deemed to bear a portion of responsibility for that death and any person who enacted or directed such measures shall be held criminally liable.

Hate speech that is directed to claimants of benefits, either individually or collectively, should be made a crime, along with other forms of hate speech that are currently recognised as such. Any penalties for such hate speech should be ringfenced and directed into the benefits system. So if person X calls their fellow human being and neighbour, a scrounger, and they get fined £500 then that £500 will be go directly into funding social security, for providing for those who have fallen on rough times.

The bedroom tax must be condemned as the product of a warped and malignant ideology and therefore must be repealed immediately.

This is not the only punitive measure that has been introduced by the current coalition government. One may think especially of their attacks upon the disabled. All such evil measures are to be rolled back to allow for disabled people to live dignified lives, where they get all the help that they need and they shall not be subject to humiliating tests. There will also be a complete overall of the work assessment capabilities, where assessments will no longer be carried out by for-profit companies, but by a person’s own GP, with potential 2nd opinions available made from other local GPs. If an assessment is subject to any appeal then the person should not have their benefits reduced or sanctioned in any way during the time of the appeal.

Any and all targets for welfare sanctions, whether overt or covert, shall be illegal. Any direction given by any minister of the government, any manager in a job centre plus or any other such person of responsibility will be punishable by ensuring that they are in receipt of unemployment benefits and that as soon they are in employment to be subject to a fine not less than the total amount of benefits that they denied to those in need.

The single best way to reduce out of work social security is by creating jobs that pay a living wage. It is an ideologically fuelled folly to believe that the way to increase employment is to cut out of work benefits. Any efforts to reduce the expense of out of work social security should be by investment in jobs.

Europe

Given the increased popularity of Euroscepticism in recent years, it seems that there is sufficient disillusionment with the current relation between the UK and Europe to warrant a referendum on whether the UK should remain part of the European Union. I have written more about that here.

We must reaffirm our commitment to human rights and the treaties governing it. Any organisation that seeks to undermine the implementation or withdrawal from such treaties represents a threat to basic human rights and shall be considered as a potential terrorist organisation.

International Aid

At present, the United Kingdom pays 0.7% of its GDP in international aid, but this is not set in statute. I would propose that this should be legislated for and will be subject to review once every 7 years.

Housing

It cannot evade the notice a reasonable person that at the moment, there is something of a housing crisis in many parts of the country. This is a classic example of excessive demand and insufficient supply. There are a number of measures that can be undertaken.

To address the issue of under-occupation, any house which is owned by left vacant will be subject to an increasing scale of tax to encourage either its sale or a reduction in the asking rent to make it affordable. If a property is left vacant for more than 6 months, then 5% of the property of the value will be levied as a vacant property tax. If the property remains vacant for over a year, then this will increase to 10%. Any property left vacant for 2 years should then be subject to a compulsory purchase order and turned into social housing.

Buy-to-let landlords do provide a valuable commodity, namely a home for someone to temporarily live in. However, in so providing this commodity, this reduces the supply of housing available for purchase and increases the price in the rest of the market. As such, there should be disincentives on landlords unreasonably buying up properties. Such measures could include a flat 45% tax on income from 2nd homes or even a ban on private landlords owning more than 2 homes.

Consecutive governments have failed to build enough new social housing to replace the stocks that were sold off under the Thatcher regime. As such, increased investment must be made to increasing social housing stocks. As these are for those more in need than private home owners, the building of social housing shall be prioritised over and above affordable private housing, though that is not to be neglected.

Economically, this will come at some initial cost, though one notes that this will provide employment for labourers, who, paid at a fair wage will contribute via income tax and that the building firms they work for will be able to reap profits from their work which shall also contribute to the treasury via corporate taxation.

This will also have the effect of increasing supply, reducing demand and so push down house prices, which is a necessary corrective measure to the rampant house price inflation which currently plagues us.

Utility Costs

As has been noted in recent years, the privatisation of the utility companies has transformed the energy market from a monopoly to an oligopoly. This has not yielded any great improvement in customer service and the aim of competition to reduce prices has proved to be a complete failure, with energy prices going up at the first hint of increases in the supply market and failing to come down when the supply market reduces its prices.

As a result of this failure of the private sector, the energy suppliers should be taken back into national ownership and price rises limited by statute to no more than 2% above inflation. This has the added benefit that any profits made the renationalised service will go straight back into the provision of utility services and not being siphoned off to shareholders.

A Voter’s Manifesto (part 3 of 5)

Link to part 1

Link to part 2

Company Law

The current Companies Act 2006 states that directors must act in the best interests of the shareholders. It is a common maxim (though not stated quite as such in the law) is that the purpose of a company is to increase the wealth of a shareholder. I do not believe that this should be the highest priority. Instead I would propose writing the following two items into statute as the joint highest priorities a company can have:

  • A company should exist to provide a valuable good or service to its customers at a fair and reasonable price.
  • A company should exist to provide a consistent and reliable source of employment that pays a fair and reasonable wage.

The above two would entail some changes. For a few years now, there has been a growing call to improve upon the introduction of the national minimum wage by introducing a living wage. I would propose putting this on the statute book and would be subject to annual review in each budget, to ensure that the minimum wage is never less than the living wage.

I would also propose that companies should only make redundancies as a measure of last resort. At present, the law is far too lax about letting people go. Additionally, it is fundamentally wrong that anyone should be rewarded for making others lose their jobs, so directors should not be allowed to receive bonuses relating to years when more than 0.1% of the company’s workforce is made redundant.

Income inequality is a source of chagrin for many and has been shown to be linked to a wider number of negative social factors. Measures should be introduced to curb the increase in income inequality with the aim of ultimately reducing it. Therefore, on an FTE basis, upper pay restrictions should apply to ensure that the highest paid employees of a company or LLP shall not be paid more than 15 times what the lowest employee is paid. This is a generous allowance designed to ease the transition to a more reasonable pay differential, so the multiple shall be reduced by 0.5 each year for the course of the next parliament.

It is also recognised that there remains great gender inequality in senior management positions. To begin addressing this, it is tempting to propose quotas for a limited period of time, though I am no longer as convinced of the efficacy of this as I once was, so I propose something slightly different. Starting with public limited companies and large (>£100m revenue) private companies, any which have a gender split for directors and senior managers that differs by more than 15% from 50/50 for two consecutive years will be summoned before a parliamentary select committee to explain their recruitment processes. Any which are found to be inadequate will be subject to financial penalties.

Corporate Taxation

There are many changes that could be made to the current corporate tax structure. One of the greatest losses that the economy currently suffers is that of tax avoidance. Measures to reduce it have thus far lacked any teeth. One of the legal measures currently employed is that of transfer pricing, where, with agreement between companies and HMRC (usually with the aid of a professional accounting firm), charges may be made between companies which has the effect of moving profits around.

One simple measure to close the loophole would be to make any management recharge a non-deductible expense for tax purposes. They could still be used for accounting purposes to accurately reflect a true and fair view of the activities of a company. This is a tax adjustment only, with no changes to accounting.

This highlights the need for greater transparency in the relation between the corporate tax paid by a company and its accounting profits. As such, I would propose a change to the presentation of a company’s income statement. It should be presented in no less than 3 columns. A company may sometimes wish to present their accounts in more columns, with a middle column being adjusting items, with unadjusted and adjusted items on either side. The format I would propose would have the adjusted (i.e. statutory) results on the left hand side, with tax adjustments in the middle. The right hand column would then be the statutory results plus or minus the tax adjustments, thus showing the income statement as used for the tax calculation. All tax adjusting items should then be explained in the notes to the accounts.

The present tax system does not suitably recognise the vast differences in the kinds of businesses that operate in the economy. While it is right that tax be levied on the profits made, the current determining factor is the profit itself. To take into account the different scale of businesses, this should be changed to revenue. So I would propose the following rates:

On revenues less than £1m: 10%

On revenues of £1m-£5m: 20%

On revenues of £5m-£25m: 30%

On revenues of £25m-£100m: 37.5%

On revenues greater than £100m: 45%

To avoid jumps, this will apply on a tiered basis. To illustrate, let us say a company makes £120m of revenue and has a profit chargeable to corporation tax of £10m

The tax due then will be (with some numbers rounded):

(10 * 1/120 * 10%) + (10 * 4/120 * 20%) + (10 * 20/120 * 30%) + (10 * 75/120 * 37.5%) + (10 * 20/120 * 45%) = 0.008 + 0.067+ 0.3 + 2.344 + 0.75 = £3.469m or an effective tax rate of 34.7%

What this does is to raise additional tax revenues from the very large companies without putting unnecessary pressure on small businesses.

Personal Taxation

The single greatest improvement that the coalition government made was to increase the personal allowance at a faster rate than it had done beforehand. The personal allowance should be raised further to ensure that anyone on the minimum wage (recall, this will be increased to be no less than the living wage) should not be required to pay income tax.

Income tax should operate on the principle of ‘to each according their need, from each according to their ability’. On this principle, anyone who is not paid enough to live on should not be required to pay tax. Anyone who is paid more than they need to live on has a duty to pay a proportion to support the society they live in and from which they benefit in any number of ways, both financially and non-financially. Personal taxation should never be a penalty, though, so no one should ever be taxed more than they can afford. Those who are paid more than others should pay a higher proportion of taxation, just as structures in a building which are stronger should bear the greater load to support the building.

For those who are paid narrowly above the living wage, they can afford the least. So I would propose the reintroduction of the 10% tax band, for earnings in the first £7,500 above the personal allowance. Thereafter, the basic rate should be kept at 20% for the next £15,000, 40% for the next £20,000. The top rate of tax should be increased to restore the 50% rate and would be liable on earnings £60,000 above the personal allowance.

There has been some speculation in recent years about “recognising marriage” in the tax system. To specially favour one group of people is equivalent to penalising another. Therefore no group of people should be favoured or penalised by virtue of their marital status.

Loan sharks

The legal loan sharks should be recognised for the plague that are, an evil that scourges society. For all lenders, there should be a maximum lending rate. To begin with, that rate should be 10 times what the inflation rate is. The aim will be to bring that down, subject to an annual review.

Regionalisation

The recent Scottish independence referendum has shown that there is an appetite for greater regional powers. Yet the failure of the ‘Yes’ campaign to obtain a democratic majority also shows that nomatter how intense the feeling may be, such intensity counts for nothing in a democracy where widespread opinion is what matters. We also recall the ‘No’ vote made in a north-east referendum in 2004. As a result of these, I would not propose any further referendums on regionalisation over the course of the next parliament.

Coming out of this was the so-called West Lothian question. I have changed my mind on this recently. Previously I was in favour of the view that Scottish MPs should not be able to vote on matters which do not affect them. However, if one takes that as a principle and applies it to other situations other the cherry-picked example of Scottish MPs then one finds oneself in all sorts of knots. For example, I recall as a commuter working in London but living in Sussex I had no vote on the London mayoral elections, even though I spent the majority of waking hours in the city. Should one extend the vote to anyone who is significantly affected by the London mayoral election, then it becomes very tricky. And the maxim ‘English votes on English matters’ sounds good until you actually think about it.

So I would favour a limited move towards greater regional powers in order to address any existing inequalities, but this should be tempered by any prospect of creating inequality. This would entail an overhaul of the use of the Barnett formula.

A Voter’s Manifesto (part 2 of 5)

Link to part 1

Environment

I note that David Cameron pledged to make this government the greenest ever. I also note that he has wholly failed to keep his promises. What is needed is not empty promises, but statutes which take seriously the fact that positive action for the preservation of the environment is not a hippy ambition but is necessary for the safeguarding of all people, now and in the future, with profound impacts on a great many other areas, not least the economy.

All legislation shall be subject to environmental review. If such reviews find that proposed legislation is not environmentally sustainable or does not mitigate to the maximum extent any potential harm, then it shall be rejected.

There will be no more investment into building new power stations that rely on fossil fuels. The only expenditure on them will be on safety.

Instead, investment will be made into renewable energies including, but not limited to, wind and wave power.

Such renewables may plug a gap left by the winding down of fossil fuels, but are not an answer to all our energy needs. So there should be funding into a new nuclear fission powered station, at a location yet to be determined.

Further to this, though, there should be additional funds made available to research into nuclear fusion as this is the cleanest, most fruitful potential source of energy available, but whose long-term feasibility remains a task that engineering has not yet conquered.

Recent years have seen annual floods in many parts of the country. This has partly been brought about by environmental change, but has been exacerbated by poor flood planning. I would propose a moratorium on building on flood plains. While there is a great need for new homes, not least in the form of social housing, these need to be built in areas where risks from flooding are minimal. There should also be additional funds directed to improving the flood defences in the areas that are routinely and severely hit.

Employment

Full employment is an ideal that should be aimed for but which should be acknowledged as unrealistic. Instead, there should be a recognition that there will likely be friction in the job market, but that the more realistic aim should be to keep unemployment to under 2 months per person.

Aiming for a total unemployment rate has less meaning than actually trying to get people into employment. So any unemployment statistics should be tiered to show the number who have been unemployed for less than 2 months, between 2 and 6 months, 6-12 months and over 12 months.

I have laid out before a measure to encourage companies to take on unemployed people before, so I would reiterate that policy.

No person should work for nothing. So work experience will have to become a form of paid employment. Zero-hours contracts should be outlawed as will the current Workfare programme.

Some additional measures are outlined in the Company Law section later in this manifesto.

Inflation measures

At present, the inflation measures that we use, RPI and CPI are artificially low. The reason is that they omit the very important factor of house price inflation. The RPI contains the increase in mortgage repayments, but if the interest rates are kept low (as a result of the current flawed inflation measures) then the RPI records a low inflation rate.

Instead, we should either amend the current measures or introduce a third which incorporates the rate of house price inflation. This would ensure the issue is taken more seriously than it currently is. There are currently some who are advocates of not increasing interest rates. When such people are put in charge of interest rates, then we get the divide that results in in house price inflation being up to 10 times what the RPI is in some locations.

It is my opinion that this is not good for long term economics and that it has fuelled the current housing bubble. Once we get a more realistic figure to use for inflation, then interest rates are almost certain to rise. While this will increase the cost of borrowing, this is necessary adjustment to correct some inequalities in our economy. Any further references to inflation should be taken to mean this improved measure which takes into account house price inflation.

Transport

Public transport is currently among the most expensive in Europe.

Train fares may be increased annually at a rate no more than inflation. This will not only apply in aggregate but will also apply to any given railfare anywhere in the country. So train companies will be prevented from increasing some fares by a little and some by extortionate amounts.

Rural bus services are also in need of improvement, so I would propose additional funding after a wholesale review has taken place, which should last no more than 2 years.

One of the major issues that is discussed in the construction of HS2, the high speed railway line. As yet, I am undecided on this issue, so offer no proposal either for or against it.

To reiterate a point made earlier, all legislation should be subject to an environmental review. Transport is one area that will be highly affected by this, not least when discussing airport capacity.

For any airline that operates at any UK airport, they will be required to engage in a carbon-offsetting programme to counteract the carbon dioxide emissions they make on all flights into and out of the UK, as well as internal flights. Airlines will be prohibited from passing on the cost of such an offset onto their passenger airfairs.

Healthcare

The current coalition government has embarked upon a dangerous crusade, based on a flawed ideology that market forces are the best way to ensure effective healthcare. As such, it should be the priority of an incoming government to repeal the Health and Social Care Bill.

The highest priority in the provision of front line services must be the wellbeing of the patient. Any would-be provider of such services should not be compromised by concerns over profitability, as this detracts from the highest priority. Therefore no provider of front line services may operate on a for-profit service. Any measures taken to privatise the NHS must be repealed and any care currently in private hands must be phased back into public hands over the course of the next parliament.

For any company that provides goods or services to the NHS (i.e. not front line service), the taxation on their profits should be ringfenced and directed straight back into the NHS. The reason for this is that healthcare should be prioritised over profits. So while it may be necessary for a company to generate profits to allow future investment, they should not be excessive, at the expense of the NHS.

Let’s give an example. Let’s say a company generates revenue of £30m, of which £20m is derived from the NHS. They make sufficient profits to warrant paying £3m of tax. While this tax would normally go into a central pot from the NHS would take part, 2/3rds of it should be directed straight into the NHS, with the other £1m going to the general pot.

A Voter’s Manifesto (part 1 of 5)

With the general election not terribly far away, it seems like the right time to think through who to vote for. The main parties have yet to publish their official manifestos, though the rhetoric and negative campaigning has already begun. I have tended to be a tactical voter, depending on what constituency I have lived in over the last few general elections. This is not my preference, however. I would want to vote for someone I can believe in, whose policies I can endorse and who I could trust to fulfil their promises and be of sound judgment to make the right decisions as and when they are necessary, but which cannot be anticipated.

So what would I want to see in a manifesto? This got me thinking. Why not just write a voter’s manifesto? I’m not aiming to have anything the length of an actual party manifesto, so this is more a sketch than a detailed proposal. No doubt I will have made some omissions which may be close to someone else’s heart. That is why this is a voter’s manifesto, not the voter’s manifesto.

I had planned to get this posted before the party conference season, but as you may find, it has gotten rather long. So while most of it was drafted before they got underway, I will admit that the section on tobacco was influenced by the Labour party conference. Any other similarities are purely coincidental, though you may well see some policy areas that would not be out of place in a Conservative, Green, Labour or Liberal Democrat manifesto (and yes, there is one area where I agree with UKIP – see if you can spot it).

My aim is not to present a panacea, but to start a conversation so that others may take up the plan I outline here and expand on bits, put some more flesh on the specifics and, if they so wish, disagree with my points and present alternatives of their own. I do this because of a belief. It is a belief that the people, the demos, are those who should set the agenda in a democracy. We should not wait for the political elite to tell us what they think and then ask us to vote for them. We should be telling them what we think and ask if they will fairly represent us.

Because of the length this has expanded to, I will spread this out over 5 days. After the opening 2 sections below the plan is as follows:

Wednesday: Environment, Employment, Inflation, Transport and Healthcare

Thursday: Company Law, Corporate Tax, Personal Tax, Loan Sharks and Regionalisation

Friday: Welfare, Europe, International Aid, Housing and Utility Costs

Saturday: Education, Immigration, Tobacco & Gambling, Culture and Defence

There is no strict rationale for the ordering. Some sections depend on others, so I’ve tried to include the more foundational first, but as ever, I may well have made mistakes. So without further ado, let us begin…

Democratic reform

I include this first because it has become one of the hot topics following the referendum on Scottish independence. I make no bones about the fact that I supported the AV referendum, but the fact that we voted no on that issue should not be taken as an indication that there is no appetite for electoral reform. So while the current first past the post system should remain in place for the election of the House of Commons, I would advocate decreasing the minimum voting age in all elections to 16.

Party whips will be made illegal. I have made the case on that before, so shan’t expand here.

Funding for political parties will be made more transparent, with all donations greater than £100 being declared and made available in a public register. Any donations made on behalf of a democratically elected body must disclose the number of people represented by that body and what proportion of the membership voted to approve the donation. Any donations made by a limited company, limited liability partnership, trust fund, charity or other similar corporate body must disclose the names of the directors and/or those individuals responsible for instigating and authorising the donation.

MPs should be dedicated to their role as a representative of their constituents. As such, they should not hold 2nd jobs, with a 6 month grace period after taking their seat in Parliament. This includes any directorships or non-executive appointments. They should also be prohibited from holding shares (pension funds exempted) during their time in office so as to minimise the risk that they could be compromised by acting in Parliament in such a way that benefits their commercial interests. They shall also declare any and all commercial interests they had in the 5 years prior to their taking their seat in Parliament, which shall be a matter of a public record. If there arises any possibility favouring any of these previous commercial interests, then they shall be deemed ineligible to vote. For any matter which does favour a commercial interest (e.g. a transport infrastructure project which uses a private company) then any MP shall be banned from taking up employment or acting as an advisor to that company for a period of no less than 5 years after leaving Parliament.

Similar restrictions will also apply to members of the House of Lords. However, this will apply after the Lords has been made a wholly elected chamber, elected on the basis of proportional representation.

Debt, Deficit & Austerity

There must be an open and honest recognition of the responsibilities held by successive governments and of the private sector which was subject to inadequate regulation from October 1986 onwards which contributed to the banking crisis, which was part of a global problem caused by laissez faire fundamentalist economics.

To reduce the deficit and bring down debt levels require some level of austerity. The coalition’s measures to attempt to reduce these, which have largely failed, have been misdirected on the grounds of an ideological attack upon the poorest in society, while letting off those who were most at fault for causing the crisis.

As a matter of principle, then, measures to reduce the debt and deficit should be borne by those who bear the most responsibility. This is not to victimise portions of society or to engage in any kind of “banker bashing”. Rather it is about restoring a balance to the economy through restitution levied upon those who created the imbalance.

Many of the measures elsewhere in this manifesto are directed towards this. Some spending will have to be pared back and further taxes raised. Anyone who tries to sing a different hymn is selling a fairy tale. Spending on those who are in need will not be subject to austerity measures, for those who cannot afford to lose more should not lose more. Instead, the spending on areas which cause harm must be pared back.

Tax revenues must be raised, with a marked differentiation needed to distinguish between small business owners and large corporations, which is not currently recognised to a suitable extent in the tax system. Some of the details of this will come later, but there will be a reduction in taxation for the smallest business, but this will be more than countered by a large increase in the taxation on large corporations. This is not to be punitive, but to ensure that those organisations which have historically enjoyed the privilege of paying less than their fair share shall begin to do so. Yet measures will be put in place to ensure that corporations cannot reduce the size of their workforce in order to preserve or grow their profits. Taxation must also not be passed on to the consumer.