Money

  • The Reform Party believes that to the bulk of the population money has value, unlike Megacorp, all the banks and the Bank of England.
  • QE will end.
  • The following will be the targeted interest rate.
    1. Savings will be paid at 5%.
    2. Borrowing at 7%.
  • The Bank of England will come under the control of the Prime Minister and the Exchequer. The staff at the BOE will be reduced and redundancies paid.
  • Implementing this policy is challenging as a mortgage rate of 7 % will sink almost all the borrowers in the UK.
  • The only way to increase interest rates would be to get savers to move their money into a government bank (RBS) where they will receive 5% interest on their savings, free of tax. Companies will then be forced/persuaded to sell to their employees, suppliers, customers. RBS will provide a long-term loan at 7%.
  • The Reform party will request voluntary sales from ethical owners (i.e. UK companies who pay full taxes on UK income without using every international dodge available). Any short fall will be accommodated via the Central Bank as long as financial justification is proved. Owners will receive all moneys tax free as long as the money is kept in the UK for a year/ who and then move to forced sales by using tax policy to bankrupt the targeted company thus drastically reducing the buy price.
  • The metric used to create a buy price will be a 7% interest rate, over a 20-year term. The idea is to eliminate amoral “megacorp” by creating an ethically moral organization as it will be owned by its users, employees, suppliers etc. depending on business type.
  • Once a buy price has been fixed by independent auditors overseen by government, the tax avoidance program would then be shown in its true colours an true tax figure can be calculated to show the scale of avoidance thus justifying the sale of the company. If tax avoidance has been inexcusable and lower sale price will be fixed.
  • Funds will be provided from private individuals via a Government created bank and pension funds. The savings rate paid will be 5%.

Bank Reform.

  • All banks will be required to split and create a new banking entity which will have the following as its business. Savings, mortgages, credit cards aligned exactly as per the original building societies.
  • Hedging, futures, options, will come under gambling law and will be treated as gambling, with capital gains tax being paid on any gain made per transaction. Any commodities gambling will only be tolerated if a commodity is produced and available for delivery.