One of the UK Meritocracy Party's top priorities is to nationalise the banking sector to replace the Profit Principle with the People Principle. Our goal is to see top-notch experts leading UK banks in your interest and not those of their shareholders who only care about their return-on-investment: no matter the economic, social and environmental costs produced by the banks pursuing short-term gains.
Will this happen overnight?
The short answer is no. Our monetary and banking system is at the heart of everything we do and must be handled with extreme care. We'll also be facing opposition from everyone who benefits from the current system.
So what's the plan then?
For the short-term, we're very much in favour of Positive Money's campaign to reform finance, which involves:
- More DIVERSITY
- More RESPONSIBILITY
- More TRANSPARENCY
- More SUSTAINABILITY
- More DEMOCRACY
Should we achieve a majority in Parliament, you can bet that'll be pushing for their agenda alongside the nationalisation of the banking sector.
This is linked with our first policy of Transforming Finance. Austerity is being rammed down our throats when it's unnecessary. Consider this: when the UK was being flooded, we suddenly had enough money for flood relief schemes. Cameron declared that "money is no object". Yet it certainly is an object when it comes to tackling poverty and homelessness. Why is that? It's because these are political decisions made to favour a narrow elite.
We've already bailed out the banks to the tune of a trillion pounds. It's time to bail out the people who need it the most instead of financial institutions that don't give a shit.
Equal Opportunity for Every Child Act
It's estimated that 3.5 million children are in poverty in the UK and that we're failing to meet the 2020 goal of reducing that. In fact, things have only gotten worse.
We suffer from a severe lack of equal opportunity for every child and that's something that has to change.
With the Equal Opportunity for Every Child Act the UKMP will work to guarantee a basic standard of living for everyone, starting with the youngest and working our way up gradually as we investigate the best way to tackle this situation.
Millionaire Estate Tax
We're meritocrats. That means we're against inheritance on principle. But we also understand that you want to save up and protect your children from the harshness of the world, after all, nobody is guaranteeing them a future except you right now. But there has to be a limit. Over 30% of the world's billionaires have inherited their wealth. Do you really want your kids to be squabbling over your money instead of teaching them how to earn it on their own and to be financially independent?
Think about it, most children will inherit well into their 40s and 50s. How is it conceivably fair to receive millions or billions from your parents at that age? Hint: it isn't, you know it, I know it and they know it.
The UKMP will tax anything over £1,000,000 in inheritance at 100%. This mean you can inherit up to £1 million. The money taxed over that amount will be used to fund the social services and the public infrastructure that we all rely on.
A living wage is beneficial in two ways. Firstly, it helps people become financially self-sufficient. Secondly, it helps society by cutting down on welfare. Less people will need to enrol into welfare programmes if they're actually earning what they need to live. If you're working 40 hours a week and are struggling to survive then that means the system has a problem that needs to be fixed.
Few employers voluntarily sign up to a living wage. Business is about making a profit after all. That's why the State has to intervene to protect the interests of all of her citizens.
The UKMP is committed to making the living wage mandatory for all businesses in the UK. Learn more about how it works by clicking here.