- 04 Aug 2018 23:18
#14937162
Although most economies have a 'private', along with a 'public' sector, they are grouped together in terms of the national accounts under the Gross Domestic Product(GDP) or Gross Domestic Product Per Person(GDPPP)or Capita, which equates to the GDP divided by the total population that is about 64.7 Million.
Our current per capita value is about £34.1K($44K), little changed from 2015.
It's pretty much a pointless excercise to delineate public vs private.
Certain people would say that 'public' spending is wrong(Tories), well, they would say that, wouldn't they, whereas 'Labour' argue to the contrary.
There's hypocrisy aplenty on this issue, because, with 'public' spending, the biggest beneficiaries are the 'private' sector, both corporately & on the personal levels.
In contrast, the Treasury receive disproportionately less income through taxes on business than on personal taxation, direct\indirect, combined.
On the personal side, the government(in spite of protest to the contrary)show distinctly more favour to the rich & better-off than to the less well-off.
Again, business gets special treatment by the government, private businesses are manipulating the tax system to their benefit, with the connivance of the Tory government, from inneficiencies & bad decision making on inestments.
Those businesses are 'writing down' notional 'losses' & consequently they are avoiding tax liabilities as a result.
That is wrong, the taxpayer should not finance business 'losses', those businesses that lose money, should take those losses head on & HMRC should NOT allow 'write-downs'.
Too much 'private' business in the U.K is in existance due to corrupt governance of public funds & too many rich,better-off people are receiving unjustified amounts of taxpayers money from tax 'breaks' when they should not be receiving any financial benefits at all, especially when the numbers in poverty are rising exponentially creating deeper divisions in society.
I believe in efficient private enterprise, the people working in that sector are the ones creating the 'real' wealth, 'Labour' is the 'real' wealth in the economy, NOT 'capital', people employed are the real assets of business, not the monetary assets of the rich to whom business owes a debt by way of dividend or share price increase.
We should reduce Corporation taxes inversely proportionate to increases in people employed each year & investments into productive assets that create more wealth as a result.
I would nationalise all the utility companies, but have them managed by the best people who would be rewarded accordingly,all other business would be left alone.
I would increase taxes on unearned or incomes that are 'deferred'.
Public services are probably more efficient that private sector equivalents, indeed, 'outsourcing' or 'privatising' of our NHS should be reversed without compensation, brought back under government control.
We know they are more efficient, because they do not require 'profits' to operate, 'profits' that would be spent where money is meant to be spent, on the services provided.
Andre PREVIN : "Your playing all the 'wrong' notes" .
Eric MORECOMBE ; "I'm playing all the 'right' notes,but, not necessarily in the 'right' order".