Altering the Tax System to Boost the Economy and Reduce the Deficit

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Altering the Tax System to Boost the Economy and Reduce the Deficit

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I petition the following:

Raise the starting point of income tax to be raised to £20k, and a flat 25% rate afterwards.

Change VAT to a single unified rate of 10% for all physical goods and services.

Replace Business Rates and Corporation Tax with a Turnover Charge, set between 0.25 and 1%, created in a way so it is tax deductible elsewhere, and has NO UK deductibles.

Replace all benefits, bar Disability, Carer, Council Tax benefits, with a Universal Basic Income (UBI) in the form of a single, non-transferable, share in the UK itself for UK Citizens aged over 16, to provide a weekly dividend, initially set at £100 per week and funded by the Turnover charge.

These will reduce government costs, stimulate the economy, reduce the structural deficit by cutting jobs in tax and benefits, thus freeing up monies to tackle the nations debt without cutting vital frontline services, whilst also providing support to those in further education and stopping ‘benefit tourism.’

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