LONDON, Jan. 21, 2019 /PRNewswire-PRWeb/ -- The call for new solutions to the UK's economic malaise has been growing, especially with the uncertainty surrounding Brexit. Years of deindustrialization, current account deficits, budget deficits, rising public & private debt, and in particular, increasingly unaffordable housing, have left British society divided and in pain. How can Britain grow and prosper in times of uncertainty? How can dual deficits be reversed while supercharging income growth? How can legitimacy and positive influence be restored?
The Young People's Party, YPP UK, sheds the traditional left-right dichotomy in favour of a model that offers moral and economic reconciliation through Georgism. By separating out forms of income that are earned by our efforts, versus those that are generated by products of nature or government-sponsored privilege, this Georgist model has the upper hand when assessing what's morally just and economically beneficial to tax and untax. The best example of this is replacing income taxation with a tax on the unimproved value of land (LVT) instead. Such policies would allow the elimination of the deficit while removing the tax burden on earned incomes, incentivizing the creation of an abundance of affordable housing, and unleashing growth unimpeded by economic distortions. Such policies are endorsed by economists across the political spectrum, and if implemented by the UK, would restore the legitimacy and positive influence that have been lost.
The New Physiocratic League, a project to modernize and expand the Georgist philosophy and act as a certification body for political parties, has coordinated with the Young People's Party UK in order to certify its platform. Although there are still some differences in the approaches advocated, the New Physiocratic League sees the YPP UK as having the policy prescription needed to restore British society and leapfrog in economic progress.
Two out of the three major UK political parties, along with large regional parties, have recently adopted an LVT as part of their platforms. However, the YPP UK was years ahead of its time and is the only UK political party to adopt the Georgist philosophy in its entirety. The growing chorus of parties supporting an LVT is welcome but inadequate. The New Physiocratic league views a comprehensive Georgist platform such as that of the YPP UK as the only way forward, unless other parties reform their platforms accordingly. The choice is between dragging out such necessary advancements in piecemeal via outdated platforms that have presided over the UK's decline, or to advance the UK's success immediately through parties such as the Young People's Party as soon as the next elections arise. The New Physiocratic League and YPP UK are open for contact for those interested in becoming part of something bigger.
SOURCE New Physiocratic League
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