One of the most demoralising and toxic elements of our economy, which has been highlighted by COVID-190 pandemic, is unemployment and the stigma attached for the need to be reliant on ” State Handouts”:-
Universal Credit, Job Seekers Allowance etc., and the fragmented and confusing approach the various Government schemes take to not always successfully help the workforce back into work!
Government should commit to funding full employment and paying anyone who is out of work and able to work a Living Wage. In exchange those eligible would be expected to work in roles for/in the community in which they live. Training should be provided to assist them into finding permanent employment in either the private or state sectors. All school leavers should participate in a ” community Service ” scheme to guide them on the path to responsible citizenship.
Of course, many would say, how on earth could we afford state subsidised full employment. Well don’t let us forget that Sterling is a fiat currency and that all the money the state provides will circulate back through the economy, thus enhancing it. The tax take will be appreciable.
The COVID-19 pandemic has forced us to change our shopping habits and the ” High Street ” has suffered enormously at the hands of the likes of Amazon and “on line” retailers. In any problem there is an opportunity and The Chancellor of the Exchequer should take advantage on an incredibly simple and highly justifiable means of taxation. If each time someone purchased something over the internet the supplier was charged an Internet Purchase Transaction Tax (IPTT), which could be collected through the aegis of the credit card companies/banks, it could bring a substantial revenue stream into the Treasury.