Rebalancing Austerity – a modest alternative budget 2013 – from Occupy Birmingham

 

We can’t do everything in one budget, but we can make a start. This is a start, by scrapping the austerity agenda, and starting a programme to reinvest in people and begin to reduce the criminal inequality that successive administrations have enabled. Some of these suggestions have been made by unions, campaigners, some by us. We present this admixture for discussion.

Figures in brackets represent income raised.

LVT and Tax

Replace Council Tax with a Land Value Tax based on it’s full rental value, by the next financial year. (As supported by the OECD, Green Party, Some LibDems and some Labour) land taxes would smooth out damaging housing bubbles and encourage more productive investment. A land tax is easy to collect, hard to avoid, and would help fund the large-scale infrastructural investment that the UK needs. )

Prior to Council tax abolition introduce two emergency new tiers of higher council tax bands (£2bn)

Introduce an empty property tax (£5bn)

Tobin Tax

Introduce the European Financial Transaction Tax (£20Bn)

Income Tax

Introduce a top rate of income tax of 47% on all income over £90,000  (£2.3bn)

Prevent anyone earning more than £100,000 a year claiming more than £5,000 a year in tax relief’s above their personal allowance (£14.9bn)

Uncap national insurance contributions and make them payable on investment income (£9.1bn)

End tax end all pension-saving tax incentives over £30,000.

Currently only 8% of taxpayers who earn more than £50,000 per annum receive almost 50% of the tax relief. (Total saving £30.bn)

Other measures

Reduce UK defence budget (by £9bn) (making it the same as Germany) and scrap any Trident replacement.

Reverse the government‟s cut in corporation tax (£3.7bn)

These savings would make savings, a proportion of which would be spent on

Abolish the 10% cut to council tax benefit

Raise state pension by 10% (Self funding by ending tax relief)

End bedroom tax

HMRC recruit 15,000 additional staff

To facilitate the introduction of country-by-country reporting for all multinational corporations based in the UK, and the minimising corporate tax evasion by clamping down on tax havens and corporate financial reporting.

Tax should be deducted at source (i.e. from the country from which payment is made) for all income paid to financial institutions in tax havens

End the Civil List (Save £32million)

Replace Minimum wage by Living Wage.

Allow local authorities to borrow build and refurbish properties for social housing and housing co-operatives (150,000 minimum and seek a neutral ROI)

Abolish all NHS Trusts and transform them into co-operatives, allowing NHS staff to be worker directors, taking democratic control, thus protecting against predatory private financiers.

Abolish charitable status for more than a term-long fee paying schools.

Make all micro-generation green technologies for houses VAT free. Introduce planning regulations to ensure that all new builds have micro generation facilities and seek to be carbon neutral.

Completely nationalise RBS and make funds available for green investment at a rate of no more than 2% above BoE base rates.

Reintroduce the Community Programme to replace Workfare, to be available voluntarily, to all long-term unemployed (12 month contracts)

A moratorium on job cuts in public services.

End outsourcing of government contracts to G4S, ATOS and other poor service providers

 

Here Comes Mr. Austerity

 
© 2012 Occupy London
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