So I thought this would be a fun thought experiment as its something ive done loads of times - practically got a full fleshed out manifesto!
Item One - Increased regulation of the business sector.
For me, one of the most pressing issues in western society (probably second only to climate change) is wealth inequality. It is one thing to reward innovation and investment, but what we are seeing in the current incarnation of western capitalism is what I would call extreme, unregulated capitalism. In fact if you look at traditional economic theory, I barely think it meets the criteria for capitalism anymore - I would coin the current economic (and arguably political) model as Monopolism.
So Item One on my manifesto is about tackling wealth distribution. My first, keystone policy on this is that
for any corporate entity, the highest paid/remunerated individual cannot receive more than 10x that of the lowest paid. Now clearly, this would require some pretty tight legislation to try to get round the inevitable loopholes and legal sneakiness, but what we are talking about here is the spirit of the law, that we will try to legislate for. This means that successful companies need to bring their employees along with them, and share in the wealth and success that they have helped to create. Note that the "10x" figure is somewhat arbitrary, but I think isnt too far off the mark. If your top CEO is getting 1 mil, everyone at the company needs to be on at least 100k.
Second thing for tacking wealth distribution is going to be significant tax increases on what I call "unproductive capital", and corporate profits. On the latter it is important to note that "profit" means
after costs, investments and anything else are taken into account. This is on that pure, bottom line profit that goes into company accounts and/or ends up getting paid out to shareholders. To counteract this, I would also introduce significant tax breaks and incentives on UK investment, so if a company invests X amount in their UK holdings they can claim back lets say 2X off the tax bill (again, exact figure somewhat arbitrary). The point here is to reward companies for reinvesting their money back into the UK or on training, job creation or innovation, and to punish those that instead simply exploit workers and economic conditions and give nothing back (and instead just seek to line their own pockets).
On the "unproductive capital" this is essentially a wealth tax targeted at those with significant, unused landholdings. Too much of the UK consists of simply privately owned land or other assets that sit dormant - this land needs to be made productive, whether development, farming or dedicated and publicly accessible green spaces.
Item Two - Political Reform
My second big manifesto item is political reform, and links somewhat to what was stated above. The justification for this set of policies is that corporations and the media have become far too influential in modern politics, where in fact a clear line should exist between the two. Corporations are able to lobby politicians for their own interests, offer what practically amounts to bribes, and influence legislation as a result. Media meanwhile are uniquely positioned to influence large swathes of the electorate and therefore must have a responsibility for objective, responsible reporting. A few key things here;
- All sitting MP's pay will be linked directly to the median pay in the UK, with pay rises in line with UK performance on key metrics such as GDP. If the country is doing well, those running it should share in this, and the policy makers should be incentivised to improve national working conditions as it will also affect their own pay.
- All MPs will be required to declare any and all professional meetings with private sector entities, and for these to be recorded and made publicly available. It is in the national interest to know exactly what MPs and companies are discussing and to help ensure that these companies are not unduly influencing policy.
- Similarly, MPs will be barred from any kind of secondary employment. Being a member of parliament is a full time job and the pay reflects that. Members should not have the time to be able to act in consultancy or journalistic roles.
- Media companies will be more closely held to account. This is a trickier one - we want a free and independent media, but we also need limits on lies and biased reporting. Right now the balance is too tolerant - it needs to be shifted.
Thus is the world according to Walrus, and when I am dictator of my own country, this is the sort of thing you peasants can expect.