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economics not recommended for students

Tiny tax video                                  

Institute of Economic Affairs            Abolish twenty taxes and go for growth, says IEA — Institute of Economic Affairs

Merkel & Sarkozy 2013

                     Merkel, Sarkozy to push for financial transaction tax – POLITICO › article › merkel-sarkozy-to-pu

French report. By Simon Thorpe


USA Version 2015 referred to as tiny tax

The Times   Simplify our tax - › simplify-our-tax-xmsgsj3klhk

10 Nov 2015 — The government needs to properly resource HMRC, and to allow the OTS to do its job if we are to achieve a tax system that is fit for the 21st ...

Robin Hood Tax                                  

The Tobin Tax Proposals 

intended to stabilise                   The Tobin Tax : recent developments - House of Commons Library

financial markets     


Bank of England                     

newsletter.                                           The UK Economy Is Broken - by Barry Smith

Harvard paper                       

After years of promoting this, thanks to my

family and followers together we have a

chance to make a huge difference to the           Twitter followers from all walks of life 


way our democracy functions I am a full time

caregiver and unable to respond to all the

messages of support,  I pray for it to continue. 🙏🇬🇧 


Data Required For Transaction Tax 


  1.  Gross transactions by type across all UK financial institutions 

  2. Total treasury revenue from all sources 

  3. National debt to IMF

  4. Interest paid on uk national debt

  5. Total cost of all personnel involved in administration / enforcement of existing system 

  6. Cost of maintaining government buildings used for tax purposes 

  7. Environmental cost, energy, paper / carbon footprint 

  8. Capital value of all buildings no longer needed 


Use of Data 


Gross bank transaction 

data would provide a baseline in order to assess the percentage required to maintain stable government 

Bacs transactions alone are £91.9 trillion. £91,900,000,000,000. Debit cards  35 Billion 

Every deposit would count, no exceptions.


Treasury income 

This figure + 10%  will be taken to ensure government receipts will cover expenditure and any contingencies arising during the transition period.


National debt and interest 

When the new system goes live, assume 5th April. The effects would be instant, an algorithm applied to all accounts would feed directly to the treasury. No UK business or individual would need to keep accounts for tax purposes. Accountants could concentrate on making business profitable. However the previous years tax returns would still have to be honoured, the proceeds of which would go towards paying off the national debt and reducing interest.


Remaining data 

This will be used during the transaction period it would directly effect employment.  There is a massive need for staff in the NHS and social sector. make salaries attractive enough to appeal to individuals no longer needed in the financial sector. This could be funded from the savings made as a result of closing and selling redundant government buildings.


Any additional information regarding fuel duty and road fund license may be useful. The existing system has been unfair for many years. A surcharge on the base rate and directed to the ministry of transportation, would ensure everyone will pay their fair share depending upon how large the vehicle is and distance traveled .


R B Smith

data required
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