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Early indications 0.36%

 

A universal single tax of 0.36% on all bank transactions, currently £771,122,000,000 A DAY . would produce enough revenue to match existing government expenditure.

 

All previous years tax liabilities would still be collected and provide funding to pay of our national debt.

 

In addition every UK wage earner would benefit from an increase in the Net pay of approximately 27%. and no longer pay any other indirect taxation, such as VAT fuel duty council tax——- etc 

 

DATA FROM ONS

 

Average UK weekly wage.       £640.00

Deductions                                £179.20

Take home pay.                         £460.80

 

Implementation of my proposals would produce a take home pay of     £637.70

along with all the benefits of lower living costs.

 

All the infrastructure is already in place. The treasury would take a tiny tax from your bank account when your wage goes in, much like loyalty points are transferred. Its a tiny tax on vast sums of money which no one can avoid by living abroad or employing clever accounts.

 

In fact no need for compulsory accounts or tax returns 

It works because when you receive money into your account the treasury takes a tiny percentage, leaving you with very close to your gross pay. That’s it spend as you please. That money becomes someone else’s income and is taxed again and again and again down the line.

 

These proposals fit today’s society perfectly as we move towards a cashless society. Who would want to try and avoid this when the taxation is <1%

If we can find a political party with the guts to take this on, the UK will attract massive overseas investment and the EU will be wanting to join us.

 

OVER TO YOU.      

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Magic Bullet for The Economy

The UK economy is broken 

 

Business development 

 

As a businessman with experience of both success and failure, I have become more and more disillusioned with the way our economy has become totally controlled by financial institutions.

Having survived the Thatcher years and probably employed hundreds of people over the years I know what it’s like trying to keep business afloat, taking out personal loans in order to pay PAYE and spending most of my time trying to conform with government regulations rather than getting on with the job.

 

Over the years I have seen many good start-ups fail simply because the desire to do what they loved took priority over keeping records and complying with statutory requirements.

 

Now retired and a full-time caregiver I can reflect on the successful and sometimes disastrous ventures that have shaped my life. As a forward thinker, believing in a sustainable future, I cannot accept the status quo and feel a calling to at least try and encourage a change in government perception and build a society that can respect and trust our elected leaders.

 

Just imagine starting a business and being able to put all your energies into doing what inspires you without giving a second thought to bookkeeping, VAT returns, PAYE. and all the other stuff that stops you getting on with the job.

 

Of course, government needs funding I accept that 100% but a large amount of what is collected is absorbed in complicated procedures with hundreds of different taxation protocols monitoring and policing systems.

 

A standard automated tax of <1% on bank deposits and cash withdrawals would produce more than enough to balance the books. The daily bank deposits now are £771,122,000,000. At 1% that would deliver more than seven billion pounds a day to the treasury and as a bonus from the date introduced, the whole of the previous year’s tax liabilities would have to be honoured, creating a surplus to cover the transition period whilst addressing government debt at the same time.

 

 We need a political party to take this on, a petition has been launched asking government to carry out a feasibility study into the implementation of such a system but after the fiasco of the last two budgets, it is blatantly obvious how exposed we are to manipulation by the financial markets. It is going to take more than a petition.

 

We don’t only need a change of government we need to change the constitution. How can we call this a democracy when locally elected members of parliament can be ordered to vote for a resolution that may not be in the interest of their constituents. All MPs should be independent and declare an allegiance to but not be controlled by whichever idealism they aspire to. 

 

If we must stick with this democracy, we need a party that can unite the sincere politicians from all sides. The Brexit party has done its job but unfortunately could never win a General Election. The name Brexit triggers emotions on both sides of the argument, I was firmly a remain and felt betrayed by the lies. Several other parties have sprung up, with well-intentioned honourable individual’s believing they can make a difference unfortunately they will just make things worse, a few MPs from all the fringe parties will simply degrade the functioning of government.

 

Now we need a leader able to merge Brexit and reform then persuade all the newcomers to join in under a new name. At that point Disillusioned back benchers from both sides of the house would be welcomed. 

 

None of this can happen until leaders of all the groups come together. I fully understand their frustrations, unfortunately each group believes they have the best solution’s.  whilst leading a small group in 1982 with the intention of forming the unity party, I too was totally focused, arrogant in my belief that eventually they would all come round to my way of thinking.

 

The common denominator facing every would-be leader is of course the economy, get that right and the funding for key ministerial objectives will be available.

 

First let’s talk and agree a common fiscal policy. Next agree on a name, all the existing names are tarnished in one way or another, it must be thought out carefully and represent the unity of all concerned. Finally, a leader, it may be possible to do this the other way round find a leader first who is respected enough to be able to bring them all together. Unfortunately, I can only think of Richard Branson as the only person to have earned that respect.

 

I am limited in what I can achieve alone unless we all stand together the Conservative/ Labour seesaw will continue to destroy our credibility in the world each time it rocks from side to side, at some point it will break.

 

documents, videos and contact information are on my website.

 

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Press Release

Preston pensioner rallies support for simplified UK taxation system

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Preston UK, October 31, 2022: A Preston pensioner has a simple solution to simplify the taxation system and make evasion impossible.

 

Barry Smith 76, who set up actionforasimplerlife.com says technology is already in place to transfer a small percentage of every UK transaction directly to the treasury.

 

This would “scrap the need for council, car or even income tax.”

 

The former mechanics and electronic engineer has submitted an e-petition on the idea, requesting the government commissions a feasibility study into the implementation of such a system.

 

In 2021/22, UK government raised over £915 billion a year in receipts – income from taxes and other sources. This is equivalent to around 39% of the size of the UK economy, as measured by GDP, which is the highest level since the 1980s.

 

Mr Smith said: “The economy is not fit for purpose. But my idea – to provide a steady cash flow to the treasury – would enable to set budgets to cover all government spending.

 

“There wouldn’t be any exceptions. Whether people buy an ice cream or a mansion, every transaction from retail sales, construction, utilities – you name it. They would contribute by effectively taxing the same money over and over again.”

 

Mr Smith claims his system would be implemented at midnight on April 4, producing an instant cash flow into the economy.

 

Tax liabilities from previous years would be honoured and proceeds used to reduce any national debt, which he claims would save millions on interest payments.

 

Mr Smith added: “This project was first started over 40 years ago towards the end of the Thatcher government. I had an article published in the Financial Times regarding the North South divide which at the time caused quite a stir in parliament.

 

“Many claim this system is too simple to be adopted but I intend to change that sort of thinking. 

 

“The implications are far more out reaching than appear at first glance and the system would be so simple. No paperwork, no accounting software, no costly tax evasion prosecutions, and no need for offshore accounts.”

 

 

 --------------------------------------------------ENDS-----------------------------------------------------------

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Many people think that what I am trying to do is complicated and it really isn’t. Please take a little time to have a look and give me the thumbs up if you understand it.

 

Take money you receive say £100, as that is credited into your account. It 

then automatically has tax deducted. Say 1% 

£1 to government. You now have £99 in bank. That’s it you never pay any more tax on that £100.

 

NOW THE CLEVER BIT

The £99 you have left becomes someone else’s income, when you pay for petrol, shopping, and yes even toilet paper.

That £99 goes into their account and BINGO another £0.99 to government.

Those you paid now have £98.01 between them which they spend and so on down the line.

Eventually the full £100 goes to government.

The speed it passes through the economy depends on the % charged

All automated, no tax returns, no VAT returns. You do whatever you want with £99.00 

Everyone is treated equally and free from government control.

 

Do a little spreadsheet. It’s so simple the establishment doesn’t understand it.

 

Hope this has helped the penny drop. This time I am going to ask you to share this. And the link. Thanks everyone 

 

https://petition.parliament.uk/petitions/624045

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OPEN LETTER

 

   The economy is broken outdated and not fit for purpose.

“Much like our existing government”

Simplify the taxation system and make evasion impossible

   

The treasury could easily be funded by introducing an automated tax, levied against every financial transaction within the UK, providing a Steady cash flow to the treasury and enabling them to set budgets to cover all government spending.

 

No exceptions, a figure of < 1%, would produce billions, from an ice cream to a mansion. Every transaction involved in their production would contribute. Effectively taxing the same money over and again.

 

It is impossible to list all contributors, any transaction you can think of would be included.

Retail sales, Online sales, Construction, Utilities, Banking, and stock market.

 

If adopted the system could be implemented at midnight on the 4th of April. The effect would produce an instant cash flow into the economy. All the previous year’s tax liabilities will still have to be honoured and the proceeds used to reduce the national debt saving millions on interest payments.

 

It effects everyone across all political divides. MPs would become responsible for their constituencies which would be funded from central government based on population and geographical needs. Council tax has always been an issue. It should never have been about property. It’s supposed to be about people.

 

A parliamentary e-petition has been submitted, requesting government to commission a feasibility study into the implementation of such a system.

 

Thankyou.

 Barry

FOOTNOTE

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This project was first started over 40 years ago towards the end of the Thatcher government. I had an article published in the Financial Times regarding the North South divide which at the time caused quite a stir in parliament resulting in the resignation of Jack Melchior. Nothing has changed.

 

The Northwest was responsible for the industrial revolution and changed the world, it will now take a key role in the economic revolution. The process has already started the rule book has just been torn up.

 

Many claim this system is too simple to be adopted, I intend to change that sort of thinking. This project is now at the top of my bucket list (I’ll tackle the NHS later)

 

The implications are far more out reaching than appear at first glance.  No paperwork, no accounting software, no costly tax evasion prosecutions, no need for offshore accounts.

 

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