It’s really encouraging to see that new ways are being developed which will drive Britain forward after the Coronavirus crisis has started to ease.
One of the prominent think-tanks, the Social Market Foundation (www.smf.co.uk), has produced a publication which highlights what they believe will be the most “transformative policies.” The report’s author is Bim Afolami MP and it reflects the work of the Unlock Britain Commission.
It’s most impressive recommendation is to set up a Recovery Fund with £15 billion of capital. Professional fund managers will make equity investments in small and medium-sized enterprises. When recovery is complete, the Fund will be floated on the London Stock Exchange. Frontline NHS workers and people aged 18 to 30 will be able to buy shares in the Fund at a heavy discount, so long as they are earning less than £30,000 per year.
Its other recommendations include:
Making it easier for ISA investors to put their savings into British SME’s (up to 20% of their total savings, so long as their total savings exceed £5000)
Giving the Bank Of England a target for an annual growth in the level of spending across the economy. This is called a Nominal GDP level target
Taking away one tier of local government, and classifying local authorities according to key metrics – if they fail to meet these metrics, the authority will be put into special measures
Bringing in a leaner and more effective planning process which enables infrastructure to be built faster, cheaper and easier.
Restructuring high streets and urban housing
Introducing opportunity zones for manufacturing
Reducing barriers to innovation and industry caused by anti-competitive legislation
Writing off student debt for holders of high-quality STEM (Science, Technology, Engineering and Mathematics) degrees if graduates spend five years in STEM occupations – STEM apprentices are to be better funded as well
Ensuring private schools and universities provide their digital courses free of charge to state schools – to help all students to have much better digital skills before they go to higher education or to the workplace.