For The Future Budget

As usual last week the Chancellor of the Exchequer presented his budget to Parliament, setting out how this Government plans to spend our money which it has collected in taxation. Year after year in good times and bad, the money disappears in ever greater quantities with no thought for the future. Continually we hear about problems left to them by previous parties that had control of the purse strings, and although every government rolls out the same hackneyed statements nothing constructive is ever done.

Governments all around the world have had to come to terms with a financial and property bubble that nearly destroyed all the economies of the western world.  Even though the elastic just about held with vast amounts of money pumped into the financial markets, nothing seems to have changed.

OK we survived. But isn’t it time for a different view of economics, instead of surviving on vast amounts of debt?  Can we not start looking towards Governments building a financial platform for the future? At this moment in time we the taxpayer own one very large bank and a huge chunk of another, what does the Government want to do? sell them off and give everyone a tax rebate. Surely a more sensible argument would suggest a fund for the future.

Politicians say we should not burden our children or grandchildren with our debt, although it was Ok for our parents, grandparents and great grand parents to do just that.  They were more than happy to burden us with the debt from two world wars, but we aren’t allowed to question the rights or wrongs of their decisions just shut up and pay up.

Governments in other parts of the world understand that they have a finite resource and consequently have instituted sovereign wealth funds developing wealth for the future of people in these countries.  Gas and oil rich countries are leading exponents of this plan for the future, so why cannot Britain use the proceeds from the sale of some small part of these banks? This could be invested in other companies and then a small proportion of our taxes could also be invested, the exchequer receiving dividend payments as a source of future income could reduce taxes.

Buying Government and private bonds could reduce the tax burden not just for individuals but also companies. It is time for a change in the financial view of the economic world plan for the future don’t just tax and spend, come on think of  some one else for a change.

© Michael Douglas Bosc
(Author of  A Loving Son and A Caring Killer)

About michaeldouglasbosc

I am retired and live with my wife on a small olive finca in the middle of a forest in the mountains of Spain in Catalonya. I served 9years in the armed services, am an engineer and because of my love of navy sailing ships a naval historian of the 1700-1800's, plus the author of 10 books. When I retired I started writing adult books my first being A Soldiers Wind. Then came Stanley's story again adult books such was his life. Another book on life in the 1950's this very much an adult book. I have now returned to my love of the sea and my latest navy book 'A Plymouth Story' follows the life of Dr James Blackstock. But Clearing In The Forest is an historical fantasy set in the middle ages at the end of King Johns reign. All the books are published on Kindle and Create a Space in paperback. I have worked all my life and for relaxation I sailed a coastal yacht for many years, but deep inside me was a writer waiting to get out. So when I retired I started writing I find story telling both relaxing and - for me - a pleasure.
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