I would like you to respond to me on this article. I don’t mind if you fanatically disagree, but I want to hear your views.
The cuts are made, the patient is bleeding. Britain needs a recovery plan. Here’s our contribution:
- Give every recently unemployed person a free company registration at Companies House. It might just be the incentive they need to start their own business.
- Make a two-year commitment to keeping interest rates low.
- Set a cap on how much banks can charge for business loans (four per cent over base?). Much of the credit blockage is about companies’ reluctance to borrow at inordinately high rates when interest rates are historically low.
- Be proud to announce a national industrial strategy; if it was good enough for the Victorians, it’s good enough for us. Universal broadband; decent roads; a mind-blowing new airport in the Thames Estuary; offshore wind farms… such investments would last for generations, creating sustainable demand and wealth.
- Remove any cap on skilled immigrant workers.
- Using the model of “social bonds”, accelerate the development regional bonds that will encourage local businesspeople to invest in their areas and get a decent return. (Credit to Andrew Haigh at Coutts for this one.)
- Related to the previous, introduce financial incentives that actively protect fragile local economies. Communities need shops, local manufacturers and businesses in tune with the local market.
- Link knighthoods to amounts of personal taxation paid.
- Introduce working hours into all prisons. Incentivise businesses to source products, at discounted rates, from them. We can’t afford to breed a generation of unproductive ex-offenders, and we might just unearth some individual gems.
- Take French off the school curriculum and replace it with Mandarin.
- Sack all the TV Dragons and give the show over to Theo Paphitis.
- Scrap the minimum wage.
- Introduce Customer Excellence Relief. At the same time, remove theprofitability criterion for current R&D reliefs – we need the investment in innovation!
- Invite Sergei Brin to take a one-year lecture sabbatical in the UK, explaining to as many UK business leaders as possible about how the internet destroys and then reinvents industries. The next Google must come from Europe.
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