Skandi
02-21-2009, 10:32 PM
An influential Labour Party group is urging the Government to freeze stamp duty for the rest of the year on houses worth up to £1 million as part of a massive economic boost.
A group inside the Labour Party has come up with its own plans for a £20bn economic …
The Progress group - whose members include Cabinet ministers Ed Miliband and Andy Burnham - was also calling for a £1,000 tax credit to home buyers, the BBC said.
Both ideas form part of a £20 billion stimulus for the economy in order to ensure this year is "the bottom of the recession".
The organisation also wants to see capital gains tax cut and the Jobseeker's Allowance raised, it is reported.
Progress vice chairman, former MP Chris Leslie, said the measures would allow the country to return to growth more quickly.
He is quoted as saying: "The ideas we suggest are designed to 'define' 2009 as the bottom of the recession.
"Doing nothing would cost us all dear in the long run. Injecting money into the economy in 2009 will allow the country to return to growth more quickly than if we let the market continue to spiral downwards, which would lead to even greater budget deficits in the longer term.
"We hope that the Chancellor will look seriously at these ideas but we are under no illusions about the difficult task he faces in an era of global recession and international credit dysfunction."
Progress is an independent group made up of Labour Party members and trade unionists, promotes modernising ideas and policies.
These ideas will only help the rich, if your not rich then you can't get a mortgage to buy a house anyway. And why should capital gains tax be held? again only people who already have assets will be helped and that's not the majority of the population. I have an idea, we have a population of 60 million split that 20 billion between everybody equally, (either £33,333 or £33 per person depending which billion the article is using) as it's free money most people would spend it. Hence increasing the money in circulation and shortening the recession. Oh hold on that wouldn't help the rich would it? I knew there would be a problem.
More (http://uk.news.yahoo.com/21/20090221/tuk-20bn-bid-to-bounce-out-of-downturn-6323e80.html)
A group inside the Labour Party has come up with its own plans for a £20bn economic …
The Progress group - whose members include Cabinet ministers Ed Miliband and Andy Burnham - was also calling for a £1,000 tax credit to home buyers, the BBC said.
Both ideas form part of a £20 billion stimulus for the economy in order to ensure this year is "the bottom of the recession".
The organisation also wants to see capital gains tax cut and the Jobseeker's Allowance raised, it is reported.
Progress vice chairman, former MP Chris Leslie, said the measures would allow the country to return to growth more quickly.
He is quoted as saying: "The ideas we suggest are designed to 'define' 2009 as the bottom of the recession.
"Doing nothing would cost us all dear in the long run. Injecting money into the economy in 2009 will allow the country to return to growth more quickly than if we let the market continue to spiral downwards, which would lead to even greater budget deficits in the longer term.
"We hope that the Chancellor will look seriously at these ideas but we are under no illusions about the difficult task he faces in an era of global recession and international credit dysfunction."
Progress is an independent group made up of Labour Party members and trade unionists, promotes modernising ideas and policies.
These ideas will only help the rich, if your not rich then you can't get a mortgage to buy a house anyway. And why should capital gains tax be held? again only people who already have assets will be helped and that's not the majority of the population. I have an idea, we have a population of 60 million split that 20 billion between everybody equally, (either £33,333 or £33 per person depending which billion the article is using) as it's free money most people would spend it. Hence increasing the money in circulation and shortening the recession. Oh hold on that wouldn't help the rich would it? I knew there would be a problem.
More (http://uk.news.yahoo.com/21/20090221/tuk-20bn-bid-to-bounce-out-of-downturn-6323e80.html)