Splendid contribution from Chris at Stumbling and Mumbling, who asks what a coherent set of left-wing economic policies would look like.
- Macro markets to enable workers to insure against falling demand.
- A citizens basic income.
- Asset redistribution, including through inheritance taxes
- Dismantling the corporate welfare state – the DTI and CAP.
An excellent start. I would propose the following policies as part of a left wing economic policy agenda:
- Overhaul competition policy – strengthen the Office of Fair Trading by increasing its powers and resources, crack down on cartels, price fixing, monopoly and oligopolies; break up market dominant companies.
- Broaden the base of income tax to remove allowances and tax breaks, including equality of taxes for earned and un-earned income, no separate allowance for capital gains, taxation of capital gains on primary residence, taxation of trust incomes and non-domiciles; and lower income tax rates accordingly
- Abolish all tariffs, quotas and other trade barriers
- Introduce a carbon energy tax
- Relax immigration controls for both skilled and unskilled labour (I would favour completely open borders) – which would benefit both UK citizens and the poor internationally