The Peace Party – Non-Violence,
Justice, Environment.

Sharing the Nation’s Wealth – creating Equality, eliminating Poverty

Peace Party has noted again, having seen an article quoting a report from the Commission on Economic Equality (set up by the Institute for Public Policy Research) that the wealthiest 10% of household own 45% of the UK’s wealth. This, of course, is garnered up from money issued by UK governments over the years, money belonging to the people. The garnering continues at an alarming rate year by year. In 2016 the wealth of the richest 1000, for example, grew by a staggering £28.5 Billion.

Where did that wealth come from in the first place? It was issued by governments to operate, for example, the health service, the education system and, shameful to have to admit it, the military.

How might that wealth be used to eliminate the growing amount of poverty in society – to show that everyone cares for all members of it by sharing what was created? How do we curtail the alarming rate of accumulation of wealth by those owning the means of production from that which each of the working population produces?

Taxation is definitely not the answer. Taxation removes money from the economic system (to prevent runaway inflation). It is also the way every citizen demonstrates her/his obligations to the state for the running of society. All extra taxation would do would be to cause less employment – those doing the employing would have less cash to spend on creating new jobs, leading to a potential vicious downward spiral.

Wealth needs to belong to the state in which every citizen has a part to play. Perhaps, as in Norway, it could be categorised as a “Sovereign Wealth Fund”. In that way the wealth could be ploughed back to, for example, fund the necessary massive home-building needed or provide better public transport infra-structure.

Such funding would add to – not replace – the necessary new money issued by the governments for such work as the health service, learning and education for all and peaceful means of safety and security for the population.

The Peace Party advocates the transfer of land ownership to the people – the nation. The process of transferring could begin with the largest properties.