Over the last few weeks, we have laid out a vision of a new Britain. A Britain with 0% Income Tax, free public transport, and a guaranteed job for everyone.
It sounds like a dream. And usually, when politicians promise you a dream, you should check your wallet.
So, let’s deal with the elephant in the room. Is this fantasy economics? Are we just printing money?
The answer is No.
Article 17 is the receipt. It is the fully costed financial framework that underpins the entire COMMONS manifesto. It proves that we don’t need to tax your work to fund the state; we just need to change where the money comes from.
The “Switch” Strategy
Our economic model is based on a simple “Switch.”
- We turn OFF “Flow Taxes”: These are taxes on movement and effort (Income Tax, VAT, Stamp Duty). These taxes slow the economy down.
- We turn ON “Stock Taxes”: These are taxes on static, accumulated assets (Land, Wealth, Corporate Equity). These taxes encourage efficiency.
The Debit Column: What We Are Cutting
First, let’s look at the “cost.” By abolishing the following, the State loses roughly £600 billion in annual revenue:
- Income Tax (Gone)
- National Insurance (Gone)
- VAT (Gone)
- Council Tax (Gone)
That is a huge number. In the old system, losing that would bankrupt the country. But we aren’t in the old system.
The Credit Column: How We Pay For It
Here is how we fill that gap and generate a surplus to fund better public services.
1. The Wealth Tax (Yield: ~£350bn) Britain is an incredibly wealthy country. Private wealth is estimated at over £15 trillion. By applying our flat Wealth Tax (Article 3) on assets above the generous allowance, we generate a massive, stable revenue stream. Remember: 1% of £15 trillion is £150 billion. A progressive rate on the top 10% covers half our bill instantly.
2. The Sovereign Share (Yield: ~£150bn) Under Article 2, the State owns 10% of the equity in large UK companies. We stop chasing “Corporation Tax” (which they dodge) and instead collect Dividends. As British business profits grow, the state’s income grows automatically.
3. The Efficiency Dividend (Savings: ~£50bn) Think about the cost of the current tax system. The chaos of HMRC, the millions of hours spent filling in forms, the benefits churn. By simplifying the system (Article 12) and ending unemployment (Article 10), we save billions in administration and welfare costs.
4. The “Velocity” Boom (Yield: ~£100bn+) This is the most exciting part. What happens when you put 20-40% more money in the pockets of every worker in Britain? They spend it. They buy goods, they renovate homes, they start businesses. The “Velocity of Money” accelerates. While we don’t tax the transaction (no VAT), the booming economy increases the value of the assets (companies and land), which increases the yield from the Wealth Tax and Sovereign Share.
The Balance Sheet
We are not relying on debt. We are relying on Maths.
- Old System: Tax the poor and the middle class to protect the assets of the rich. result: Stagnation.
- COMMONS System: Tax the passive assets of the rich to unleash the energy of the poor and middle class. Result: Growth.
Safe, Solid, Secure
We have stress-tested these numbers against the worst-case scenarios. Even if asset prices fall, the revenue generated covers the core functions of the State.
We aren’t promising “Free Stuff.” We are promising a Fair Swap. You give up the anxiety of Income Tax. The nation gives up the protection of hoarded wealth.
It is a deal that makes every worker in Britain richer from Day One.
This is the end of the Manifesto series.
We have the vision. We have the policies. And now, we have the budget.
The blueprint is ready. Are you?
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