[UKGOV] Finance Matters: Tax changes and how it can help
Day 1,189, 16:45
•
Published in United Kingdom 
•
by
•
by Bank of England
Hello again, Britain.
Today saw the beginning of one of many steps towards our plan to stabilise GBP at our preferred rates, which I outlined here.
To do this, we need to first and foremost, eliminate any imports we have. Our markets are competitive enough, and the relatively high wages means that the core essentials: food and the odd moving ticket or weapon, can be bought with wage GBP. Houses can still be bought from domestic companies by converting gold into GBP and buying them from the market.
To return to this peg, and ensure that the peg is effective and useful, we must do this slowly; gradually, and tentatively.
You can see the first step of this, here. By removing the ability for countries to export to us, by having a 99% tax, we can ensure that the supply of GBP is severely diminished. This will have a marginal effect on prices, but in truth the majority of the things which people need, want, and buy, are already domestically supplied anyway.
This move will enable me to contend with less speculators, as well as an increased ratio in demand versus supply. This is not only good for the value of GBP, but also for the eUK as a whole. Citizens will get more GOLD for their GBP, and more importantly will hopefully be able to get this GOLD quicker, and the key to all monetary markets: have faith in the government set peg. As a sidenote, Government could also resume the stockpiling of GOLD, which is great :3
I will endeavour to keep you updated as to how this works, and any further measures we decide to take. Thank you to Minister of Trade Kevy Shabado, and also Congress for their support and willingness to put this reform in practice.
Thank you,
jamesw
Deputy Prime Minister, Minister of Finance, and an all round cool guy.
Facebook
Twitter
Discord
Comments
\o/
Good job.
(Gives jamesw a Lollipop)
Will these tax changes be taxing?
Good idea I hope it works.
Jamesw stealing money from the people again?
Let's make a note not to re-elect any government with him in!
imo we should just hand everything over to alfagrem.
he pretty much owns the country anyway
vote
put all taxes at 99%, then euk wins the game.
Alfagrem is going into retirement so the counter-revolution to oust the tyrannical, dictatorship of Jamesw is postponed 😛
+ I agree with these changes
Nice one
Declaration of interests (like in RL parliament):
http://economy.erepublik.com/en/land/overview/1827002
(no offence meant)
GL with your changes!
this will just put prices of everything up and only benefits those who own companies. It's not good for the normal player
@Jamie2721 you're right!
That's is one of the reasons für ich bin in Deutschland.
What's to stop foreigners selling stuff on our markets? as 'Import' tax doesn't mean 'Export' tax just stops brits from buying from other countries
no, import tax is what companies have to pay to sell stuff here
This might work, though cutting off our economy from other countries is not a good idea. We will be able to export to who we want to, though due to this 99% tax on our imports, ie a 99% tax on other countries' exports, they will be reluctant to export to us. This will create tension towards the eUK who may in turn stop buying our exports and turn to alternatives from other countries. Plus the other countries who we currently trade with will also want to raise their import taxes on eUK goods, and so we may end up paying more and have less exports in the future as other countries will not want to trade with us.
Good Idea.