We were watching the daily politics  this week when Greg Philo (research director of Glasgow media  dept) came on and explained his revolutionary idea to cut the National debt.

He explained that the top wealthiest  in this country own 10 % of the country’s wealth and if they promised a one off payment of 20% of this wealth it would wipe out the National debt.

Some of this wealth had been accumulated during the boom time of astronomical bonuses, so it would show that we really are “all in this together!”

 As much of their wealth is invested in property and possessions, they could put off the payment until their death and just pay the interest.

In a YouGov survey 74% were in favour of this (surprisingly the rich were slightly more in favour!)

I am no economist but it all sounded very plausible to me and at least merits debate between the policy makers and should not be dismissed out of hand.

I think the government should still eliminate waste, but maybe not so draconally as the present plans, so that we could keep spending within our means, but would not be wasting money on unemployment pay, and would have a happier workforce. Those at the bottom of the wealth scale would not feel so resentful about being targetted for cuts whilst reading about   the bonuses still being paid to those who caused the problem in the first place.

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