2015 UK Leaders Debate
I recently watched the UK Leaders Debate 2015 and it was engaging. The future of Britain looks good. Candidates debated their point of view in vying for the post of Prime Minister of Britain. The United Kingdom has made strides under incumbent David Cameron. The 2008 financial crisis that began in America and spread to many nations, created a significant amount of global economic damage. Cameron made some necessary cuts to stem the damage and return the country to financial growth.
To further these endeavors, a greater return to manufacturing is key. Another area that needs to be addressed is reopening factories that were closed during the financial crisis. Bring them back as new business ventures that will generate revenue from product sales. While Britain may not be able to currently duplicate the absolute low prices of items made in China that we all buy, as said items have proved very useful. Britain can trade on one of its other strengths. For decades items bearing the “Made in Britain” mark carries a level of prestige and name recognition. It’s time to use that again in a wider series of product campaigns. It would also be beneficial to start exporting British culture again on a greater scale.
A small government created committee should be formed, with at least one economic mind present, with corporate experience. Many wealthy foreigners, some of whom are billionaires, live in Britain. Their children also live in Britain and go to school there as well. Therefore, a desire and inclination to further invest in the community one lives likely exists. Britain also has homegrown millionaires and billionaires. A government based investment bureau could serve as a means of pairing such wealthy people with businesspeople, who have proper product ideas and plans and possess the know how to reopen factories.
Tax Incentives For Foreign Businesses
A special tax rate for foreign companies willing to open offices in Britain, would attract new businesses and generate additional revenue. Ireland’s 5% tax rate for foreign businesses has brought in new foreign revenues over the past several years.
Unused National Resources
England has a significant amount of land that could be used for more farming. In China, business people willing to work the land, are allowed to use government land for free. It has greatly increased Chinese exports and provided well for local families willing to work the land and pay taxes on revenues.
An example of an item that is needed and grows well in Britain are potatoes. There are so many foreign and domestic restaurant and fast food chains in Britain, who use potatoes on a daily basis. Increasing domestic potato farming could generate additional billions in revenues.
The Crown Estate owns many properties in Britain. Local councils also own a number of properties. Britons with sound business plans and even modest savings, should be allowed a few months free rent to establish a viable local businesses and under contract, pay rent beginning in the third or fourth month of occupancy once the venture is up and running.