In parallel, work at an international level to get rid of tax havens outside British jurisdiction, and close international loopholes such as the "Double Irish Dutch Sandwich".
Reject outright any and all attempts to introduce systems whereby investors may sue the UK government for loss of future profits. A current example is the Investor-State Dispute Settlement (ISDS) process in the TTIP treaty currently under negotiation[^2], which undermines democractic processes and could prevent the government taking action which benefits the UK if it causes potential losses for foreign investors.
[^1]: Stop Secret Contracts
@philipjohn - about 10 years ago
I understand and agree with the motive here, but the blanket approach could result in government being able to stifle legitimate challenges to it's authority.
Would it be more acceptable if the text limited itself to attempts to make the government liable to "companies registered outside the UK" rather than "investors" as it currently says?
@philipjohn - about 10 years ago
Actually you've given me an idea that might work when better. How about a public interest test, where legal action is possible but must be in the public interest?
That seems reasonable, but we'd still need to resist the international stuff that keeps trying to be imposed if it threatened to overrule even that. If I remember correctly, international treaties supercede domestic law.
@philipjohn - about 10 years ago
Hmm you may be right, which actually puts the whole thing in a different context I guess, because it isn't then a policy that says 'government will stop corps suing' it's one that says "we'll stop international treaties from having a chilling effect on legitimate government policy that's in the national interest"... i.e. its the treaty that's the direct threat as opposed to the corps. Does that sound right?
Yes, that's what I was going for. Let me rephrase using some of those words and we'll try this again.
layout: policy
{:toc}
What policies should we propose to maintain a competitive economy that provides full employment?
The rate of capital gains tax for individuals will be harmonized with the rate of tax on earned income, and all allowances for each will be pooled, in order to ensure that work is rewarded and incentivised to the same extent as investment.
Investigate viability of moving from an income-assessed direct taxation to wealth assessed direct taxation. Those who earn significant salaries but do not accumulate wealth or assets beyond a single property (ie ensuring a genuine 'trickle-down' to the service industries) should be taxed less. This means hard-work is still encouraged, high-earners are not forced abroad, but those who sit on vast sums of accumulated wealth would be penalised instead.
Investigate viability of moving from an income-assessed direct taxation to wealth assessed direct taxation. Those who earn significant salaries but do not accumulate wealth or assets beyond a single property (ie ensuring a genuine 'trickle-down' to the service industries) should be taxed less. This means hard-work is still encouraged, high-earners are not forced abroad, but those who sit on vast sums of accumulated wealth would be penalised instead.
Investigate possible reforms to the way VAT is applied to goods and services with a view to making it less regressive and, ultimately, to remove the poorest from having to pay entirely - even if this requires renegotiating our obligations to the EU.
Investigate possible reforms to the way VAT is applied to goods and services with a view to making it less regressive and, ultimately, to remove the poorest from having to pay entirely - even if this requires renegotiating our obligations to the EU.
layout: policy
{:toc}
What policies should we adopt in our relations with other countries?
Whilst it's right that those nations that make the greatest contribution to UN troop deployments should retain a permanent seat on the UN Security Council, no nation on the UN Security Council should have the right of veto. All UN Security Resolutions should be subject to majority vote.
Whilst it's right that those nations that make the greatest contribution to UN troop deployments should retain a permanent seat on the UN Security Council, no nation on the UN Security Council should have the right of veto. All UN Security Resolutions should be subject to majority vote.
Resist the adoption of international treaties that could allow unelected institutions to have a chilling effect on government policy that is in the public interest of UK voters. A current example is the Investor-State Dispute Settlement (ISDS) process in the TTIP treaty currently under negotiation[^1], which undermines democratic processes and could prevent the government taking action which benefits the UK if it causes potential losses for foreign investors.
The OpenPolitics Manifesto
@Floppy - about 10 years ago