DOOM: Taxes again

[SueEllen]

UK needs to start a sovereign wealth fund.

What rather than give people tax cuts?

What a novel idea like the one Norway, China, UAE, Kuwait, Saudi Arabia etc and even France, Canada and Australia have?

[Fraidycat]

£50bn is a very big number to find.

Can't wait to see how they come up with it.

50 Billion is about 6% of tax revenue.
Therefore increase all tax rates by 6%, Income tax, NI, VAT CGT, Corp tax etc.
So, 20% income tax goes up to 21.2%, VAT goes upto 21.2%, 40% band goes up to 42.4%, 45% band goes to 47.7%, CGT goes to 29.7% on property. etc.


Sorted.

[SueEllen]

We are all in luck - it's only £43B a year to stand still....