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Headline

John Mills: This is why London is such a divided city

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So basically- reduce the spending power of the UK population to make them richer. What rubbish. Reducing the strength of the pound reduces the ability for people to import the materials needed to manufacture; remember, these islands depend on imports hugely. The tools used to reduce the value of the pound rob from every holder of said currency- mostly people in the UK. It hits those without fixed assets such as property far harder than those who do. It does nothing to solve the principal problem with our industrial competitiveness: high land prices and high taxation on economic activity. It does nothing positive (quite the reverse) to stop the increasing divide between the rich and poor. Stop landlords taking the lion's share of projected profit either through high selling prices of land, or ongoing rent extraction, while slashing the taxes we place on labour (NI, Income Tax, Employers NI), and transactions (VAT), and watch productive business boom.

Posted date

Wed, 20 Aug 2014

Posted time

3:11 pm

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