In the UK the main left wing parties are the Labour Party and the Green Party. They believe in making laws that protect women, ethnic minorities, and gay people against discrimination. They believe that we should tax rich people more to support people less well off, and they believe we should regulate big businesses so they serve people’s interests. They believe that a good welfare system means people are healthier, more able to work, and will put more back into the economy. They also typically believe country-wide tax-funded action on climate change is necessary.
Evaluate the impact of the government spending cuts on the UK economy? The government has described the cuts as "inevitable", if it is to restore trust in the UK economy and effectively erase public borrowing over the next five years. But leading economists are divided over whether cutting spending by so much and so quickly is a good idea. Concerns remain over the impact cuts could have on the economy. Government spending allows the UK to have certain facilities that we already demand high of, including the NHS, which is one of the biggest and most demanded service by the UK economy.
His budget proposed; increased incomes tax on incomes over £3,000 a year, a new super tax on incomes over £5,000 a year, increased death duties on estates of over £5,000 a year,and new land taxes, indirect taxes on luxury goods such as petrol, beer and cars. Lloyd George wanted to increase revenue and he believed in the redistribution of weath from rich to poor, however, he probably had other motives for launching such a controversial budget as well. He needed to show the working class votes that they didn’t need to vote for the Labour Party to achieve economic and social reform and perhaps more importantly he wanted to punish the conservatives for their opposition of the Lords – something that they resented greatly. Previously the Conservative domination of the House of Lords caused no problems however once the Liberals came into power the Lords could use the power to wreck their legislation. After the Liberal Landslide in 1906, the Conservatives were practically powerless in the House of Commons, but they decided to use the permanent conservative majority in the Lords to block the policies of the new Liberal government and so by doing this they could show that they still had control over the country.
The party also favours spending to modernise Britain's infrastructure and to support business in creating new jobs. Labour's platform also favours what it describes as "fair tax increases." Taxes cited by the manifesto include a tax on bankers' bonuses and a new tax on earnings that exceed 150,000 pounds a year. The Conservative Party, in contrast, favours broader cuts in government spending, including a freeze on
It could be argued that this was due to America’s neutrality to the war until April 1917 causing the USA not to have any war damage and this changed America’s economy as they replaced Britain and London as the USA and New York became the Financial Centre of the world. This shows that the economy was strengthened due to impact of the 1st World War. It can be argued that the impact of the 1st World War had a negative impact on the economy, especially industrial unrest. This is a convincing argument because the demobilisation and reduction of the war time production had led to an increase amount of unemployment causing workers to be out of jobs. It could be argued that the national debt increased to 658% during the war and due to this the taxes raised higher and remained higher even after the war in 1918.
The greatest issue that has dominated these two parties recently is healthcare. The Democrats follow a liberal ideology and therefore would be in favour of providing some form of universal healthcare; however, the Republicans disagree and favour a more conservative approach of people paying for their own private healthcare. Therefore, these two parties came to loggerheads in recent times when Obama brought in his Health Care Act more commonly known as Obamacare. Obamacare is a system which provides cheaper health insurance for a large number of people in the USA, it is seen by liberals as a positive approach and keeps more people out of poverty and in good health. Whereas, for Republicans this is federal government spending which should be reduced and that people should be self-sufficient and shouldn’t rely on the government.
In this essay I will analyse the extent to which Britain had an industrial depression after the year 1873, the ways this event ultimately materialised and why. During the mid-Victorian boom, Britain's export performance was greatly aided by the policy of free trade which was adopted by most economically developed countries at the time. After 1873, however, many European countries and the USA abandoned free trade and began imposing taxes on imported goods called tariffs. This resulted in domestic goods in other countries being effectively cheaper than the imported British goods meaning that foreign firms were less inclined to import goods. For example, Italy abandoned free trade in 1878, followed by Germany in 1879, France in 1882 and finally the USA in 1883.
This is an example of Labour Party’s aims to benefit one area of society, without negatively impacting another in the process. Ian McCartney, the trade and industry minister in 1993 said “This will be a real plus for two million people”. In order to seek support from a broader audience, New Labour abandoned Clause IV of the constitution. The abandonment of Claus IV meant that the Labour Party no longer conformed to the traditional Ideology of Old Labour. Under the ruling of Old Labour, the economy was regulated in order to ensure economic justice for the people of Britain.
To what extent have the Conservative Party adopted One Nation policies in government? One nation conservatism refers to the left of the right wing of conservative party, one nation conservatism is a catch all party, this means in relation to the conservative party they have moved further towards the left in order to appeal to a greater percent of the voting public. One nation conservatism is pro trade unions has a paternalistic view of that state this means the richer people act much like a father figure towards the poorer people in society, this type of conservatism is more related with the Labour party and were particularly strong after 1945. Another form of Conservatism is named Thatcherism after the late Margaret Thatcher, Thatcherism is associated with the further right of the conservative party, were they believe in rolling back the state, a free market economy, privatisation including British Gas, BP and British Telecoms, Thatchers aims as she tackled the depression were not to “ reverse economic decline but to boost Britain’s stature in the world” Thatcher and Thatcherism were extremely patriotic, and based the moral principles around “faith, family and flag”. I believe that the Conservative party under Cameron haven't adopted many One Nation policies for these reasons; On terms of economic and the deficit the Conservative party seem more right hinting at the thatcher heyday.
Romney has said he would seek income tax law reforms that he says would help lower deficits and would stimulate economic growth. Among the series of tax changes he has proposed are: reducing individual income tax rates across the board by 20%, maintaining the Bush administration-era tax rate of 15% on investment income from dividends and capital gains. He has promised that the loss of government revenue from these tax cuts would be offset by closing loopholes and reining in tax deductions and credits available to taxpayers with the highest incomes, so that his tax plan would not raise federal deficits, but has said that aspect of the plan cannot be evaluated yet due to lack of specific detail. But whats new with mitt romney? Every position he seems to stand by has lack of detail because he runs from just about every question.