One of the most important issues I champion on the left is about the economy, because it is something that needs great public discourse. Parties like Coalition! and the Conservative Party love to talk about how they are far better at managing the economy, whilst the left like to champion policies of equality. I would like to say though that these goals are not mutually exclusive, as shown by my policies as Chancellor of the Exchequer. Talking about how your wallet is going to be affected by the government that comes in, and how taxes are going to improve the United Kingdom is so important to me, and I can imagine it is important for you to know how your money is being spent, so lets talk about it.

First of all, I'd like to talk about Labour's economic plan. Labour has always been a party that is about fair taxation of all people, which is why in the past budget I have scrapped elements that are regressive or do not affect the richest in the UK as much. I have scrapped Stamp Duty Tax because a tax on the transaction on property punishes development on the property, and affects the poorest in society the most. I have encompassed that all in Land Value Tax, which is fairer, and only affects landlords in the UK. I have also ensured that inheritance tax has been gotten rid of, and that instead there is a lifetime receipts tax, which will ensure that the government does not morbidly tax dead people, but rather taxes those that are benefiting absurdly from inheritance. I would like to remind all that there has been studies done that shows there is a correlation between higher inheritance and less productive work. Is it right that a person can sit on their arse because of inheritance? Is it fair that you all have to work extra hard because of that one person not giving a damn? I didn't think so.

Labour are also advocates for new mechanisms that shall ensure that capital gains and income tax can be taxed in conjunction with each other. Wouldn't it be nice in the future to file all your capital gains and income into one form of tax, that you know the outcome of, instead of wasting hours and hours on researching multiple taxations that will affect you? Labour does have a plan for that. We do plan to make systems where income and capital gains can be combined together, and we will be introducing creative policies like a Rate-of-Return Allowance. This RRA will ensure that you can invest for your future by allowing a certain amount of return for yourself. It will simplify the tax system while benefiting everyone. For corporations here in London and in the UK as a whole, you will get an Allowance on Corporate Equity, to emphasise equity financing as a great option to consider rather than just debt financing. We will also ensure that the regressive and inefficient fuel tax is replaced with a proper congestion tax over the next 5 years. The Labour Party is looking ahead with taxation and the economy, and we are upfront about it unlike the parties on the right.

The Conservative Party economy section is rather disappointing. All it says is that they will effect income tax, with not much detail on the policy. They have also said they will lower corporate tax, without much response on what they will do to increase revenue for this nation. I acknowledge that for the budget there was quite a significant deficit, but I ensured that Britain had a pathway to a surplus, and we did so at a quite drastic pace. With the Conservative Party however, this is not at all guaranteed, and if it was, history shows they are likely to raise inefficient taxes to cover the loss. The Coalition! manifesto is even worse, stating that it will replace the fair Land Value Tax with a 'Proportional Property Tax'. How utterly disgraceful that they want to make the housing market more inaccessible, and allow for more homeless people in London and the UK. It will most likely tax development as most property taxes do, which will stunt the effective use of land, and will cause homelessness, which leads to horrible outcomes for everyone in the UK.

What we need in the UK is strong, effective leadership on the economy, and Labour has continued to show that through their responsiveness in the Exchequer. We are the party for fair taxation, following through with recommendations regarding fair taxation, and making it simpler for all Britons. We respond to economic problems by actually addressing it rather than making worse. Vote Labour to ensure that London and the UK has a better economic future.