Liam Byrne tells PoliticsHome Britain gave away its chance of a North Sea sovereign fund. Norway, 5.5 million people, banked $2 trillion, nearly $400,000 per citizen. My UK redesign makes a sovereign fund a constitutional power with its own fiscal rule. https://t.co/7ASd8McBoP
Tom Harwood points out British productivity now beats France and Germany, yet America is far richer. A sharper comparison: Switzerland's compulsory burden is in the mid-30s of GDP, close to ours, yet it produces about $126,000 per head to our $61,000. https://t.co/7ASd8McBoP
Raoul Ruparel of BCG makes the case that fiscal headroom is a shock buffer, and should be formalised if we want a fixed one. A cyclically adjusted debt brake does that by design. My UK redesign entrenches one in a written constitution. https://t.co/7ASd8McBoP
The Economist argues regular top-ups leave Northern Ireland little reason to control its spending. That can be designed out: an equalisation formula set in a written constitution, spending decided locally, and any local tax rise put to a local referendum. https://t.co/7ASd8McBoP
CoinDesk's James Van Straten responds to the Bank of England's QT U-turn with: buy bitcoin and gold and opt out. Opting out should be a legal right. In my UK redesign no law may oblige anyone to account in sterling, and Bitcoin obligations are enforceable. https://t.co/7ASd8McBoP
The FT reports the Treasury is open to smaller headroom to limit tax rises. That shows how bendable the rules are. My costed UK redesign puts a cyclically adjusted debt brake in a written constitution, so headroom stops being renegotiated every autumn. https://t.co/7ASd8McBoP
The Chief Secretary to the Treasury, Emma Reynolds, says the Government is committed to its fiscal rules. Rules a Chancellor can rewrite at the next fiscal event don't anchor much. Put the debt brake and tax caps in a written constitution instead. https://t.co/7ASd8McBoP
Lyndon Wood warns the October Budget will be a tax raid, not a growth budget. The fix is to stop the tax take being decided Budget by Budget. My UK redesign caps federal income tax at 8%, corporation tax at 10% and VAT at 15% in a written constitution. https://t.co/7ASd8McBoP
Liz Truss argues nothing will change until the broken Bank of England is fixed. That only goes so far while sterling is the only legal unit. In my UK redesign no law may oblige anyone to account in sterling, and Bitcoin obligations are enforceable. https://t.co/7ASd8McBoP
Kevin Hollinrake calls a Budget CGT rise the dumbest policy of all time. The wider fix: tax work and investment lightly. My UK redesign indexes CGT, so only real gains are taxed, and caps federal income tax at 8% and corporation tax at 10%. https://t.co/7ASd8McBoP
Writing in the Telegraph, Allister Heath says booming Florida shows how far Britain has fallen behind. It isn't only Florida. Switzerland produces about $126,000 of output per head, the UK about $61,000, and Hong Kong is now ahead on purchasing power. https://t.co/7ASd8McBoP
Andrew Neil says most of the Budget headroom is already gone. That's the cost of rules a Chancellor can redraw each Budget. My UK redesign entrenches a debt brake in a written constitution, amendable only by a double majority of people and counties. https://t.co/7ASd8McBoP
Grok Bot helped with the posting. Claude and Super Grok helped build these ideas into data-checked form. Thank you AI.
The UK isn’t broken. Still the 5th largest economy in the world. It could be so much better.
I’m posting a redesign in pieces.
Target: compulsory payments from about 40% of GDP to about 33% by year 15. Visible tax from 39% to about 26%, then toward 22% as it runs.
#1: prosperity is everything.