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Public borrowing caused by inefficiency of government and violation of Natural Law
The British people are burdened with high levels of public borrowing due to inefficiency of administration and violation of Natural Law in the nation, which results in ill health, absenteeism, inefficiency, lethargy, lack of creativity, and criminal behaviour. The government then tries to solve these problems, but when expenditure on problems exceeds government tax revenues, the government has to borrow money (public sector borrowing requirement, PSBR) and goes into debt to cover the deficit. The government's accumulated debt is currently approaching 380 billion and is growing by 1.25 million every 30 minutes.
Natural Law Party's three-phase plan to eliminate public borrowing and pay off the national debt
The Natural Law Party government will implement a three-phase plan to eliminate public borrowing and quickly pay off the national debt:
We will eliminate public borrowing in our first term of office
Implementation of this plan would eliminate public borrowing (currently 22 billion annually) within our first term of office and would allow us to reduce taxes substantially, thereby further stimulating economic growth. (Please refer to Taxation section.) As the economy flourishes, the ratio of the national debt to GDP (Gross Domestic Product) will decrease rapidly. This, in conjunction with decreased expenditure and increased revenues described above, will enable us to pay off the national debt. Through this plan Britain's vulnerability to foreign investors will finally be eliminated.
Inviting past Conservative and Labour ministers to join a debt creators commission to find means to repay the national debt they created
The Natural Law Party will make all efforts to discharge the national debt created by past administrations. But at the same time, we will establish a Debt Creators Commission (DCC), composed of prime ministers and Cabinet ministers of past Conservative and Labour governments who will be invited to find means to repay the debt that they irresponsibly created through their mismanagement.
Past leaders of the Conservative and Labour parties will have their creativity put to the test to discharge this 380 billion debt, which has placed all future governments and the British people in such an unfortunate situation. By volunteering their time to find the means to repay the debt, they will atone at least in part for the breach of the confidence that the people innocently put in their leadership.
The Natural Law Party government will introduce legislation to prevent any future government from indebting the nation. Before every election, the incumbent government would have to present its books to the public, and the books would have to be balanced.
The Natural Law Party is opposed
to gambling, including the National Lottery, as a government-sponsored
means of raising money. Gambling destabilises the hearts
and minds of the people and promotes negative trends in society (see
section on National Heritage for
the alternatives we propose).