With manufacturing at a 17-month low, and with the House of Commons not even certain to pass this afternoon an amendment to the Sanctions and Anti-Money Laundering Bill that would require the UK to impose a requirement on the Crown Dependencies and the British Overseas Territories that they create registers of the beneficial ownership of companies if they failed to do so of their own free will, here is what we need to do.
We need to welcome the additional billion pound investment in jobs and services in Northern Ireland, and ensure that Scotland, Wales, and each of the nine English regions receive the same per capita as part of the application of Modern Monetary Theory, including the Land Value Tax. That must include, both the Universal Basic Income, and, through Modern Monetary Theory’s Jobs Guarantee, full employment with the Living Wage, securing as it would the bargaining power of the trade unions.
We need the reassertion of democratic political control over the Bank of England, including that the approval of the House of Commons be required for changes to interest rates, and for the assertion of democratic political control over the City of London, with a Glass-Steagall division between investment banking and retail banking, and with the closure of all tax havens under British jurisdiction. Yes, closure. Parliament must legislate independently to that effect, on the clear understanding that anywhere that did not like it was free to become independent.
We need a reorientation towards the BRICS countries, including the integration into the Belt and Road Initiative of all four parts of the United Kingdom, of all nine English regions, and of all of the British Overseas Territories and Crown Dependencies.