Reform: 4-Pillars of the Liberal Awakening

Economic Reform

Capitalism - Banking & Finance - Taxation - Government Borrowing - Free Trade & Competition

Government Borrowing
  1. A new law will be brought in that forbids government from borrowing to pay for services (except in exceptional circumstances such as war).
  1. All annual spending will have to be met through equivalent revenue raised through excise and taxation.
  1. A commitment to pay off the total national debt in 25 years, thus creating a better and more prosperous society for the next generation.
  1. To meet this commitment, a surplus of revenue over spending will, therefore, have to occur every year.
  1. Government to average a 2% budget surplus on any 7 year period of expenditure.
  1. Deliberate deficit spending to be outlawed: protect the next generation.
  1. Government debt to be reduced to zero over 25 year period.
  1. Freed from having to pay debt interest, a bigger proportion of tax receipts can be used for paying for services (health, education etc).
  1. Interventionist policies such as Keynesian economic Pump-priming, Monetarist money supply targets, and Quantitative Easing (ie. printing money) will be abolished.

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