
| Area | Changed Billions |
|---|---|
| Asset Sales | -£65.02 |
| Taxation Timing Changes | -£75.00 |
| Covid | -£79.00 |
| Crime | -£5.00 |
| Energy Collection of Subsidy | -£30.00 |
| Fraud and Errors | -£20.00 |
| HS2 | -£5.00 |
| Private Finance Initiatives | -£4.00 |
| Recovery from Third Parties | -£2.00 |
| State Benefit Paid Date | -£5.00 |
| Tax Evasion | -£20.00 |
| Unclaimed Assets | -£50.00 |
| Total | -£360.02 |
The sale of Government owned "grace-and-favour" properties used by MP's could generate an estimated £40-£50 Million.
While this amount is small compared to the National Debt, such sales would be a powerful symbolic act.
A strategic sale from UK government vast portfolio of underused and not used land and buildings could generate an estimated £10 Billion.
The sale state-owned enterprises such as Channel 4 and Ordnance Survey could raise substantial funds without lessening the benefit government provides.
Contribution of 2.5% from earnings from those individuals who received the benefit of the furlough scheme.
Matching cost to the person benefiting, in a manageable way.
Self-Employment Income Support Scheme (SEISS) recipients repay 10% contribution of the total grant value paid back annually until cleared.
Recoup Covid grants and Rates relief from companies that did not experience a significant financial downturn during the relief period.
Full Recovery of all Covid Loans paid out, including the fraudulently obtained ones.
Sell the cryptocurrency that the UK law enforcement has seized from criminals.
When wholesale energy prices fall below a pre-defined, stable level, a small portion of the consumer saving can be automatically redirected to pay down the £65 Billion energy subsidy paid out.
Reclaim historic fraudulent benefit and grant claims with a modern, methodical, determined approach, targeting a recovery of at least £20 Billion but hopefully more.
Identify where money has been misspent and now not needed on HS2 and determine what can be clawed back for the taxpayer.
A specialist task force must be created to aggressively renegotiate all Private Finance Initiative (PFI) contracts and a law change may required to aid this endeavour.
Suppliers of the contaminated blood products must be compelled to make a substantial contribution to the victim compensation fund.
Fujitsu, the company that designed and profited from the defective system, must be compelled to make a substantial contribution to the compensation fund.
Contribution of 2.5% from earnings from those individuals who received the benefit of the furlough scheme.
Matching cost to the person benefiting, in a manageable way.
Incentivise Early Repayment of Student Debt: Offer a significant discount to graduates who can pay off their loans early.
A Tax Honesty Window: allow individuals and businesses to declare any unpaid tax from previous years and settle their accounts by simply paying what is owed, without the threat of additional fines.
Aggressive Pursuit: Once this window closes, a new, dedicated task force could be launched to aggressively pursue tax evaders.
Tax on bank interest and fixed-interest bonds paid to companies and individuals should be deducted at source.
Shorten the payment deadline for all companies from nine months to six months after their year-end.
For companies with expected tax bills over £500,000, a "payment on account", requiring 30% of their estimated tax to be paid during their trading year.
Remove the outdated concession that allows the largest companies to pay their tax in quarterly instalments long after profits have been made.
Change the 100% First-Year Allowance on business investment, to one that writes off over the lifetime of the asset.
Bringing the deadline for Income Tax return submission and final payment forward to 31st October, from the current 31st January the following year.
Switching to mandatory monthly VAT returns, from the current three month returns.
HMRC's bank account of unmatched funds that have built up over the decades be used to pay down the National Debt.
Claim the unclaimed financial assets, mainly Pension pots, in dormant accounts where the owners are unknown or cannot be traced.