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Raise money and let the people decide how to spend it’ - scotsman.com
COUNCILS should be responsible for raising all the money they spend and have the power to introduce taxes, a think-tank will propose tomorrow.
Right-of-centre Reform Scotland said under its plan, local authorities, responding to local needs, could decide to adopt a property tax – such as council tax – a land value tax, an income tax, a consumption tax, or a basket containing a number of taxes.
The think-tank argues local accountability would be boosted, democracy would flourish and local elections would matter.
Reform Scotland chairman Ben Thomson said: “No-one likes paying taxes, however, what people really dislike more is seeing their money spent inefficiently and with little accountability.
“If more taxes were the responsibility of local councils then they would become more accountable to the communities they serve and create a real change of culture leading towards more effective government.
“Therefore, if a council felt their residents’ preferences and the local economic circumstances dictated that council tax should be abolished and replaced with an income tax, sales tax or something else entirely, they should be allowed to do just that.
“Councils would bear the risk, but also reap the reward of the decisions they make. Local people would be much closer to the decision-making process.”
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Print this pageIndia presents white paper to check illegal money - BBC News
India's Finance Minister Pranab Mukerjee has proposed the setting up of fast-track courts to deal with the issue of illegal money and tax evaders.
Mr Mukerjee said the government had already brought five bills in the parliament to deal with the problem.
The minister presented a "white paper" on illegal money in the lower house.
It did not name any offenders or give any estimates for illegal money but earlier reports have said $500bn was deposited in overseas tax havens.
Outlining the various proposals to deal with the problem of black money, the minister suggested that anti-corruption ombudsmen be appointed at the central and state levels.
"While these measures will set the tone for an equitable, transparent and a more efficient economy, there is much that we could do, both individually and collectively, to strengthen the moral fibre of our society," Mr Mukerjee said.
In the past, officials have said that illegal funds were often sent to tax havens such as Mauritius, Switzerland, Lichtenstein and the British Virgin Islands among others.
Analysts say this flight of capital has helped widen inequality in India.
According to one estimate, India's underground economy accounts for 50% of the country's gross domestic product.
In recent months, India's Congress party-led government has been on the back foot on the issue of black money and corruption.
The Supreme Court has also chided the government for not doing enough to unearth illicit money.
As business suffers, David Cameron retreats - Daily Telegraph
Taken together, these two factors deter employers from recruiting new staff and hinder businesses from developing the higher productivity on which sustainable growth depends. And far from making things better, the past decade has seen a steady increase in the level and complexity of employment law. Beecroft’s report would have reduced the amount of regulation in a comprehensive and principled way – and, by doing so, would have introduced new certainty and confidence.
That confidence matters, because businesses are far too short of it at present. British businesses collectively hold about £750 billion in cash. To reach its fiscal targets, the Government needs a steep rise in investment – the rate at which they spend that money. Speaking last week, David Cameron said that he leads “a Government resolutely committed to being on the side of enterprise, entrepreneurs, businesses large and small, wealth creation of all types and descriptions”. To many, that is clearly not the case. A full-blooded Beecroft Review would reassure such people, just as a pale imitation would reinforce their concerns.
Taking a step back, today’s news adds to a sense of unease about what the Coalition is actually trying to achieve. This is a Government that claims to have deregulation at its heart, fired by a Tory belief in free markets and a Lib Dem distrust of central direction. It has a policy to stop the growth in regulation (so-called “One In, One Out”) and to reduce the stock of it (the “Red Tape Challenge”). In general, it is supposed to have rejected an old approach based on more debt and higher state spending, and to be looking for real growth via higher productivity.
Recently, however, we have seen a weakening in the Government’s position. Last autumn, the Chancellor pushed his deficit reduction target from the end of this Parliament into the middle of the next. Last week, the Prime Minister hinted at new borrowing to finance infrastructure – exactly the way that Gordon Brown justified his record spending increases. At the same time, the retreat over the NHS has cast a long shadow over the Coalition’s commitment to public-service reform, and its changes to the planning system are taking much longer than expected.
In recent days, the Prime Minister has urged his European counterparts to take action by saying that the eurozone is “at a crossroads”. He should hold his own Government to account in the same terms. Given the challenges facing the country, it is surprising that he needed an independent report to propose changes to employment law at all. Now that he has it, it will be remarkable if he does not implement it – and then keep up the pressure.
Mr Cameron is right that the country’s basic economic problems are due to poor productivity rather than lack of government action. He will know, however, that the contrary view is growing in popularity (and, indeed, capable of winning elections in other countries). The more his policies focus rigorously and consistently on improving the efficiency of the economy, the more successful they will be.
Andrew Haldenby is director of the independent think tank Reform
NATO chief sees financial aid for Afghan forces - Bay News 9
(AP) — NATO's secretary-general says he's optimistic that the international community will continue to finance the Afghan security forces.
"This summit is not a pledging conference, but nevertheless a number of countries have announced substantial contributions to the Afghan security forces, so I'm optimistic," Anders Fogh Rasmussen told CNN's "State of the Union" on Sunday.
The international community in general has a responsibility and interest in ensuring the Afghan forces take full responsibility for the country's security after 2014 to prevent terrorists from reestablishing safe havens and launching attacks against Europe and the United States, the NATO chief said.
The Afghan security forces are expected to cost about $4.1 billion a year. The Afghan government will pay about $500 million of that, and the rest will come from donors. The NATO summit, which opens in Chicago on Sunday, is not a pledging conference, but there will be much talk about who will pay. About $1.3 billion is expected to come from nations in the NATO coalition other than the United States. Pledges for about a third of that have been announced by Australia and European nations. U.S. taxpayers and some nations outside the military coalition likely will make up the $2.3 billion difference.
President Barack Obama is expected to meet with Afghan President Hamid Karzai on the summit's sidelines to discuss planning for Afghanistan's 2014 elections and the prospect of a political settlement with the Taliban. NATO's plans keep foreign forces in Afghanistan through the 2014 election but withdrawing by 2015.
Fogh Rasmussen pointed to Afghanistan as an example of NATO interests extending beyond the alliance countries' borders.
"We are in Afghanistan to prevent the country from once again becoming a safe haven for terrorists, who can use that safe haven as a launching pad for terrorist attacks against Europe and North America," he said. "So though territorial defense remains the core task of NATO, we realize that defense of our borders may well start far from our borders in today's world."
Money Mole Announce Plan to Avoid Financial Struggle through Loan Mismanagement - YAHOO!
Following recent news regarding people taking out further loans for their financial needs, the team at Money Mole have issued advice for their users to consider before selecting their chosen loan providers.
(PRWEB UK) 21 May 2012
A recent report from the Guardian has revealed that up to a third of people who take out further loans have experienced more financial difficulties as a result. Through their price comparison site, the team at Money Mole have extensive experience in helping online users with financial solutions and following this report have been prompted to announce advice on how to select the right lender.“It can be concerning to hear that financial services designed to help those with monetary problems have in many cases actually made the situation worse, but partaking in your own personal research prior to selecting a company and following these guidelines can eliminate the chance of this happening.”
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The team at Money Mole have expressed the advantages of finding the right unsecured loan. As well as enabling a person to begin to regain control of their finances, it can also provide mental relief during stressful times. In order to find the right company to assist with these financial problems, it is essential to find a provider who has a trustworthy and reliable reputation. The team have issued advice warning their users about companies who offer no details regarding terms and conditions, or information about borrowers’ rights and obligations.
- The team at Money Mole have advised users of their site on the benefits of comparing interest rates between companies. The advantage of an unsecured loan is that it generally comes in at a lower interest rate than a secured loan, often with an APR of 6%. Whilst many firms vary it is worth bearing in mind that some companies have been criticised for high interest rates, so whilst assessing each lender, always keep this is mind.
- It goes without saying but the financial specialists at Money Mole have taken the time to speak out against unofficial lenders. With such a high percentage of people finding themselves in trouble with untrustworthy loan providers, it is more important than ever to be aware of the dangers of approaching loan sharks, who rely on extortionate interest rates being aggressively enforced. The team at Money Mole maintain a price comparison site that puts its customers in contact with the most reputable companies in the industry.
Based in Essex and London, MoneyMole is one of the UK’s leading price comparison sites. Specialising in providing customers with access to experts from a range of financial services including the arrangement of secured loans, unsecured loans, re-mortgage, or life insurance, the company have a trusted reputation for helping people from a range of financial backgrounds.
Ben Austin
Money Mole
0800 088 6000
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Small business group calls for extension to New Enterprise Allowance - stockmarketwire.com
The New Enterprise Allowance (NEA) should be extended to encourage more budding entrepreneurs to use the scheme, the All Party Parliamentary Small Business Group (APPSBG) said.
Current rules allow jobless entrepreneurs to apply for funding of £1,274 plus access to a guaranteed loan of up to £1,000 – but only after they have been claiming Jobseekers Allowance (JSA) for six months.
Now the APPSBG is calling for the New Enterprise Allowance to be made available from day one of signing onto JSA and for funds to be available for a full year to provide £3,692 plus the guarantee of a loan of up to £2,000. The APPSBG believes that this would encourage more budding entrepreneurs to set up in business, in turn helping to boost the economy and stem high unemployment.
The APPSBG is concerned that the current funding is too low to enable budding entrepreneurs to get viable business ideas off the ground – a view supported by figures from the FSB, which show it costs 14 per cent of small businesses between £2,500 and £5,000 to set up.
Also in the new report, ‘Breaking down the barriers to entrepreneurship', the APPSBG is calling on the Government to: Support enterprise education in schools and colleges by incorporating it into the statutory curriculum Create a one-stop-shop to provide advice and support, such as a Small Business Administration Adopt and put in place the Breedon recommendations to bolster alternative sources of finance Provide a support network for older entrepreneurs to ensure that Jobcentre Plus builds relationships with women's networks to promote mentoring for women
The report comes following an Entrepreneurship Inquiry launched by Iain Duncan Smith MP, Secretary of State for Work and Pensions to see how the barriers to self-employment can be removed and entrepreneurs can be supported in setting up their business in difficult economic times.
John Walker, National Chairman, Federation of Small Businesses, said: "As this report shows, breaking down the barriers to entrepreneurship is crucial if we are to turn the economy around. We all know that unemployment is worryingly high. That is why it is even more important to make it more attractive to go it alone, and encourage those that have a great business idea to make it a reality. The current New Enterprise Allowance does not achieve this. But if the Government extends the scheme to make funds available and at higher rate, more budding entrepreneurs will be encouraged to become self-employed."
Brian Binley MP, Chair of the APPSBG, said: "What this report shows is the importance of nurturing business and developing the culture to enable it to thrive. Not only must we create the conditions to help ensure that the education and financial systems are available to supply potential entrepreneurs, but society embraces the enterprise culture whose full potential is yet to be explored is these difficult times."
Karen Freyer, Managing Director of the Creative society, said: "Since 2009 we have been pushing for the reintroduction of the Enterprise Allowance Scheme but as it stands it does not go far enough. The FSB is absolutely right to push for its extension to help reduce unemployment and drive economic recovery"
Shaun Williams, Director of Corporate Affairs at Leonard Cheshire Disability said: "It is vital more disabled people are given the funding support they need to increase self-employment opportunities. Extending the New Enterprise Allowance scheme to make funds available at higher rate will enhance their chances of success. Our research shows a quarter of disabled people in work are self-employed as this is often the only viable option."
Richard Morris, founder and CEO of Heropreneurs, the only independent military charity to support armed forces leavers and veterans into business, said: "What is clear from this report is that entrepreneurs urgently need more financial support to enable them to start up and meet operational costs. The barriers which block the emergence of new and small banks must be rapidly taken down because we need more loan funds not less. It is bad for the UK economy that these barriers remain."
Story provided by StockMarketWire.com
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