Thankfully the UK economy has not gone into a triple-dip recession which in my mind always seemed unlikely, the very fact that record numbers of people are in work, record numbers of jobs are being created and record numbers of businesses are being started just does not sit with the UK economy being in recession.
The 2 articles below on the subject of the UK economy are interesting although you will notice a left-wing bias being from the Guardian and the Independent newspapers but for information purposes you will find them interesting and then following on from this exactly what does George Osborne need to do next?
Obviously a lot of what George Osborne needs to do with the UK economy is restricted by the far left-wing Lib Dem’s and David Cameron’s desire to be seen as a nice guy but Osborne and nice guy David know what needs to be done and if parts are rejected by the Lib Dem’s then they should announce that together with the potential gains and losses to the UK economy, it is after all what the Lib Dem’s have been doing since the start of the coalition, without proper justification other than to satisfy their own dwindling band of members!
The first thing we must do to ease the burden on the UK Economy is trim our Overseas Aid Budget, soon to top £11billion, as it is estimated that only 2/3rds of all aid actually gets to its destination we should be able to do this and still fulfil our obligations, Overseas Aid should also be tied to British goods and probably brought back under control of the Foreign Office.
Second ease the burden of stamp duty by making the charge 0% up till £300,000 and 1% on amounts over £300,000 but only the amount over £300,000, this would get the housing market moving far faster than Osborne’s current scheme and would pay for itself through increased activity!
Thirdly, reduce fuel duty by 25%, again this will be largely self funding because of massively increased activity, fuel duty currently is so high the income has plateaued and will soon start to fall, there is no reason why the fuel duty could not rise and fall along with the fluctuation in line with the base price.
Fourth we need to increase Defence spending which in itself will create a large number of jobs and better equip us for the changing world along with preparing the UK for military export orders which again will create jobs.
Finally but only for this particular list, Osborne need to make a major cut for SME’s in employers National Insurance contributions, can only be afforded for the SME’s but it is a tax on jobs we just can’t afford and could give a further fillip to the economy.
These measures would go a long way to boosting the UK economy in a major way but do you agree, agree or not, have your say by COMMENTING BELOW and if you have found this article interesting please LIKE us on the ‘Its just life’ FACEBOOK page!
Michael Ashcroft on Overseas Aid, a very good read
The case against our massive overseas aid commitment at any time, let alone with the cut backs being made at home in the UK economy
http://news.google.comThu, 25 Apr 2013 11:51:28 GMT
http://news.google.comThu, 25 Apr 2013 09:04:19 GMT
The GuardianUK Escapes Triple-Dip Recession, Pound RisesAction ForexU.K. gross domestic product figures showed that Britain managed to escape a triple-dip recession after recording an expansion in the first three months of this year. The advanced gro …
The IndependentBREAKING: UK escapes triple-dip recession as GDP figures show 0.3% growthThe Independent”We haven’t triple-dipped, so that’s obviously a welcome thing, but I don’t want anyone to think that somehow we are out of the woods yet. “We have ..