A Simple Solution

There is much talk in our general election of the need to solve our deficit and the associated austerity that is seen as the solution to that deficit. Politicians talk of higher tax or of cutting benefits. Both options are much argued over, and of course there are many lobbyists and interest groups proposing there favoured solution.

There are some solutions that are not discussed, and I cannot see why not. Let me give you two options that would solve the country’s financial problems at a stroke.

1   1)      Scrap the British nuclear deterrent. – We spend billions of pounds on purchasing and maintaining the Trident missile system. The superficial answer as to why is to act as a deterrent to aggressors. In reality there is no possibility or indeed should there be of the UK using its nuclear weapons independently of the US. However the possession of nuclear weapons gives the UK an inflated sense of power, it maintains its seat on the UN Security Council. But in essence it is a vanity programme. To give it up would have two immediate benefits, it would release billions of pounds, it would also send a powerful message to the rest of the world if a nuclear power voluntarily giving up it weapons. So you would think that this is a no brainer, however it is not even discussed.

2   2)     Britain uniquely in the world has a status called non-domiciled. This means that a British citizen can claim non-domiciled status so that that they are not liable for UK taxation. They have to demonstrate that they have a valid connection with another country. This means that again many billions of tax is extracted from the British exchequer. When I say that two newspaper proprietors have this status, you will get the right impression about the forces ranged in its favour. At best it is an anomaly stretching back to the days of the British Empire, at worst it is a way that the very rich avoid paying tax.

So there you have it two very simple ways that we could resolve the debt crisis without cutting benefits or raising taxes. Yet no mainstream politician will discuss this. Perhaps it is about time that they do.