“Where’s the money going to come from?” It’s a question a lot of people ask on the doorstep, when Labour campaigners come around and tell them we have the answers to the problems the Conservatives have created. Surprisingly often, the question wrong-foots the canvassers. It’s because it’s such an illogical question. How do you pay for a revenue generator? It’s like saying where do you find the energy to eat your dinner?
Here’s my answer:
How do we pay for renationalising the NHS? By rejecting deals with private companies that put hospitals expensively in debt, by refusing all corporate ‘services’ that are priced so high to pay for share-holders’ dividends and commercially minded managers’ salaries.
In short, we pay for renationalising the NHS by renationalising the NHS.
How do we pay for renationalising the railways? Pretty much as above, except that we don’t even have to get into arguments about ‘compensation’ for companies that were expecting to get rich out of our railways – we just take them back when their franchises end. We could also drop ticket and season ticket prices so that more people could afford to use the railways, if we re-invested the money currently going to foreign companies in profits.
In short, we pay for renationalising the railways by not paying for any more franchise deals.
How do we pay for all the local authority schools, childrens’ centres, libraries, museums and other education projects we’ve been losing in recent years? By ceasing to funnel vast amounts of government money into private and semi-private ‘academy’ companies.
In short, we pay for education and culture by renationalising education and culture.
How do we pay for running the tax collection system properly?
By adjusting taxes so that those who can afford to pay more – the millionaires, the billionaires and the corporations – do pay more. We can put a small proportion of the revenue generated that way into re-staffing and powering up the HMRC so that it has the capacity to administrate and collect all the tax that should be collected. The result will be a MUCH greater income, with less burden on those who DON’T have large amounts of money to pay taxes with.
How do we pay for setting up a national investment bank?
With the rest of the income generated by sorting out the tax system.
How do we pay for the council houses, the new schools, childrens’ centres and care services, and the green infrastructure we’re desperate for? With the money generated from the national investment bank, once it’s set up and funded by the money rolling in from the HRMC.
How do we get everyone who wants to work back into work so they can pay some taxes and keep things rolling? By employing them to get on with all the things listed above.
Any other questions?
Update added 20th May 2017: some other questions did come up – here are some answers to those, courtesy of We Own It …