Paid Summer Internships/Apprenticeships for Young People
The London 2012 Olympic Games created thousands of temporary jobs and have shown how a publicly-funded temporary jobs (internships, jobs, apprenticeships) programme can act as a stepping stone for young people in areas of high youth unemployment. We should create a paid summer jobs programme with training for school-leavers who have no intention of going into higher education, a programme that can help them get integrated into the labour market. This programme should be part of a national job creation plan that includes building affordable housing, and renovating schools. If we want the economy to grow, we need to make sure that the next generation of workers have meaningful opportunities early on in their working lives.
Alvin Carpio – Board Member of the UpRising Leadership Programme (http://www.uprising.org.uk/)
A tax on non-investment ***TO BE PITCHED BY PHONE***
The long-term trend of for UK companies to hold ever greater cash reserves, and the figures now held is around £0.75 trillion. Current economic orthodoxies old that these cash reserves will be invested, with growth resulting, if only the government can bring to bear an atmosphere of business confidence, but such belief in the rationality of companies’ investment decisions is misplaced, given the long-term trend to hoard cash. So let’s turn it all around, and impose a thoroughly Kaleckian non-investment tax on larger businesses which hold cash reserves over and above a certain cash: turnover ratio, balanced by positive tax breaks for certain types of investment (aligned with emerging industrial and educational/workforce development strategies), in a way which breaks the vicious cycle of no-investment-no growth-no demand-no confidence-no investment once and for all, by forcing up investment.
Paul Cotterill – Director, Bickerstaffe Children’s Services Ltd
Jobs Rich growth for all not just economic growth for some
Of 614 areas of UK marked as seriously deprived in 1985 only 8 are now at above average employment levels. We need a new, entrepreneurial, locally based approach to growth that brings jobs to where they’re needed. We need Social Enterprise Employment Zones for the most deprived areas where energy is focussed on job creation that is appropriate to the skills and abilities of the area.
Colin Crooks – Social Entrepreneur with 20+ yrs experience and author of “How to make a million jobs – A charter for social enterprise”
We need to clarify our policy of fiscal stimulus
Even though we are right and they are wrong, we acknowledge that the Conservative Party have a far more coherent economic policy than Labour. We’ve heard many hints that a future Labour government will adopt a policy of massive infrastructure building, but the leadership are shy of openly explaining this policy, for fear of Tory scrutiny. We believe that an economic policy of massive intervention, with massive stimulus, through massive infrastructure spending, should be presented with massive confidence by a leadership who will then stand their ground and defend their policy.
Blogger at Labour Uncut
Manufacturing Tax Credit
Manufacturing requires a relatively higher level of investment than other sectors; in people, technology and R&D. Returns tend to be longer term too. Clean up a confusing and wasteful system by enabling companies to receive a single tax credit against their investments in training, new technology and new innovation.
Paul O’Donnell – The Manufacturing Technologies Association
Ten Year Industrial Policy
The UK needs a proper, planned industrial policy, not just emergency measures as we currently see from this Conservative Lib Dem Coalition government
Amanda Ramsay, Bristol South Labour Party
A quarter off rents and rates for an ‘Independent Quarter’ in every town
Each town or city shall have an ‘Independent Quarter’, comprising a geographically self-contained area in which landlords are required to let office and shop space only to local or independent businesses. Statue shall be passed into law to compel landlords and local authorities to reduce rents and rates within this ‘independent quarter’ by 25% in perpetuity. This will give a significant boost to local businesses, stimulate entrepreneurialism and help rejuvenate our high streets.
John Slinger – Chair, Pragmatic Radicalism
A Bank of England for the workers
The financial crisis and unprecedented economic turbulence of recent years has meant that the Bank of England has long been focused on recovery, not on its inflation target. Yet the inflation target remains formally its key objective. This pretence should be abandoned and Labour should be leading this debate. We should argue for a short-term recovery target: getting the employment rate up to a particular level, say. And argue that when this employment target has been hit, a new post-recovery target should be used, which reflects what is important in the UK: not the general price level but the asset price level. In the ten years leading up to the crisis, the Bank was consistently hitting its inflation target, while house prices went through the roof and stored up trouble for later. We need a Bank of England that explicitly targets short-term economic recovery and longer-term stability in asset prices.
Jonathan Todd, Economic Consultant
To Encourage Growth We Should Shift Tax From Earned To Unearned Income
Taxing land values instead of incomes would increase wages, boost productivity and create jobs. The enemy of enterprise is the asset holder and it’s the asset holders holding the economy to ransom by demanding their rents before allowing wealth creation to take place. We need policies that support productivity over privilege.
Gregory Thompson – Theatre Director