TheComment


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James Max is a chartered surveyor and broadcaster


Forget Plan A, what about Plan R? The UK has hit a double dip recession; James Max puts forward his plan for growth.


A


greeing with Ed Balls does not come naturally to me but the Shadow Chancellor is


correct when he says the coalition’s economic plans are not working. The actual Chancellor has his work cut out and it is about time George Osborne changed course. Mr Balls’ own solutions will not work; having worked alongside Gordon Brown, his economic track record is as blotted as a wind turbine covered landscape. It is too late for a ‘Plan A+’ or ‘B’ – I want a ‘Plan R’, with ‘R’ standing for ‘Radical’ and bringing Recovery. This is the deepest recession


for 100 years; Ed Balls insists that we should not have cut so far or so fast. The reality though is that the economy isn’t struggling because of cuts – we are actually spending more than when the coalition came to power – it is struggling because the measures to incentivise growth have not been implemented. Quantitative easing has been


infl ationary; wages have not kept pace with infl ation and the tax burden for individuals has risen. Although interest rates have remained low, the cost mortgage holders pay has risen; arrangement fees, valuation fees


Well done!


and eff ective rates have all gone up. These measures have taken money out of the economy making it no wonder we have seen a slight fall in GDP. The prospects for the housing


market remain uncertain with much regional discrepancy. Where the buyers rely on


tape helps. If the Chancellor wants to cut the burden of debt then it is simple; spend less on areas that produce negligible or no economic benefi t. From curbing health tourism to cutting quangos and bureaucracy; there is plenty to reform. ‘Plan R’ also means cutting tax


bringing Recovery.”


“I want a ‘Plan R’ - Radical and


signifi cant levels of debt and where the unemployment rate is rising, the market remains in a state of malaise. In central London, investors and overseas buyers continue to be attracted by strong rental demand. For the economy to recover, the whole housing market needs fi xing. My ‘Plan R’ changes the


approach to spending, incentivises growth and investment whilst taking the envy measures out of our tax system. Real spending cuts need to be made. The government is wasting too much money on the wrong things; reorganisation just costs a lot of money but getting rid of unproductive staff has a positive impact and cutting red


Walking for happiness


Caroline Copland, head of marketing and PR at Knightsbridge based agent W A Ellis, is set to walk the 125 miles from the Cenotaph, London to the Menin Gate, Ypres, Belgium, in aid of Combat Stress, a charity specialising in the care of British Veterans. Caroline is hoping to raise £5,000 from the walk which takes place between 25th and 31st


12 ● June 2012 ● TheNegotiator


August. W A Ellis is sponsoring Combat Stress’ event at The RAF Club, Piccadilly on 31st May. For information regarding tickets email feettoremember@hotmail.com or to donate, please visit: http://www.justgiving.com/ feettoremember For further information on Combat Stress visit: http://www.combatstress.org.uk/


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and raising thresholds. The tax-free allowance should move to £10,000; from £10,000 – £30,000 the tax rate should be 20 per cent; from £30,000-50,000 it should be 30 per cent and above this it should be 35 per cent. Stamp duty should be reduced, initially to two per cent then one per cent. A buoyant housing market not only moves capital and feeds the fi nancial services industry but the entire knock on eff ects of building works, DIY stores and home furnishing too. If you increase the size of the


economy, there’s more money in the pot. If the tax system were simplifi ed, wealthy individuals and companies will be happy to locate here. Avoidance is easy to


reduce if people and companies are located in the country as full residents. In recent years the UK has


allowed itself to become jealous and envious. The sooner we realise that we are part of a global market place the better. Our opportunity for economic success will come from fi nancial and professional services, intellectual property, high-end and skilled manufacture, trading, internet business and commodities. Let us stop kidding ourselves that high taxation and the overuse of the word ‘fair’ will solve our problems; transforming the UK into a truly global marketplace rather than merely a destination for a shopping trip will. Let us also celebrate the fact that people want to buy their own homes and make it easier for them to do so. The sooner we realise that the state has a reduced role and that less intervention is desirable socially and economically, the better. The sooner the chancellor realises he needs ‘Plan R’ the sooner we will see recovery.


James Max presents Weekend Breakfast every Saturday and Sunday Mornings from 7-10 am on LBC Radio and is a qualifi ed Chartered Surveyor.


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