The purpose of tax is to raise revenue, not to penalise people.
We should scrap all taxes whose long-term impact is neutral or negative, including taxes on savings, investment and inheritance.
Here’s a simple way to plan for economic growth…
The UK is £3T in size.
For every 1% of growth, you need £30B of new value created.
To get new value you need businesses.
£30B is:
- 30,000 x £1M revenue businesses.
- 10,000 x £3.35M revenue businesses.
- 3000 x £10M revenue businesses.
Have a plan for all three. Support an existing 30,000 startups to hit £1M+.
Create incentives for 10,000 YouTubers, Agencies, Micro-SaaS companies doing £2M+ to relocate to the UK.
Work with global VCs and PE to bring in 3000 Mid Sized companies that are stuck at £10M-£50M.
Focus on revenue growth first and tax later.
@wesstreeting@andyburnham Wealth inequality has been stable for decades. Meanwhile government spending has risen year over year for decades. Maybe it’s not the wealthy sucking the money out of the economy - maybe it’s the government.
@DavidDeutschOxf@RabbiStevenG I find it fascinating how the Dems have someone like Sam Harris on their side, and they are so completely wedded to extremism. Bizarre.
@TomTugendhat We never out compete China on EVs, neither can the US. The argument for EVs is they are so much simpler than combustion engines. But the infrastructure is also not there to support mass adoption. Plenty of problems that can be solved with enough will.
We've completed another big AI-assisted assessment this week - 70,000 KS3 students from nearly 200 secondaries.
That takes us up to over half a million pieces of writing assessed using our AI-enhanced Comparative Judgement assessment model.
Our system is working very smoothly and delivers rapid results.
You can read more about the AI-human agreement here.
https://t.co/15v2z9CVH1
“Appearing before a parliamentary committee this week, Lord Hermer said he was still determined to conclude a treaty surrendering the Chagos Islands to Mauritius. This is shocking. It beggars belief that, even at five to midnight in the life of the Starmer government, there are those in Whitehall still seeking to railroad through a deal replete with absurd and dangerous terms. It belongs in one place and one place only: the bin.”
https://t.co/pvWwrpjOPj
The social media ban is Kemi's only mis-step so far, but it is a huge one. Extremely cruel, nanny-state, Starmer-like bludgeoning interference in personal and family life. Worse than school VAT, worse than farm tax. Unenforceable but will teach millions of teenagers that they are criminals and that the state is their malevolent enemy.
@JuxhinCelaEU@AimenDean This won’t work because a market must be exchanging value. The government brings no value only control over budgets. Another angle, why would government be competent. They prove themselves many times over to be incompetent. See Ayn Rand for more.
@DanielPriestley It is so bad. If people could even detect a relationship between high standards of living and high tax you may even put up with it aka Denmark.