BUDGET September 2015
HM Treasury
Contents 1
Foreword
This economy is not our first. We have tried to implement economies in the past, and we have unfortunately been unsuccessfully in doing so. Within this budget, it is my hope that we will be able to establish an economy that is worthwhile, and that meets the needs of; citizens, businesses, the government and the Treasury. 2
Throughout this budget, you will find information on rebalancing the finances of individuals in order to redistribute wealth to begin to make the economy fair for everyone as we start our new venture. This rebalancing has taken into consideration what would be the ‘normal pay per post’ amount of £2, and the post count of each individual citizen.
There will be information on the budget itself, with a full breakdown of costs and budgets for the Bank, Treasury and all areas of Governance. Furthermore, there will also be information on the wages for members of the Government, provisions to allow citizens to claim an income, and support for businesses in order to help them grow.
There will further be information on the creation businesses, estates and houses, including the fees and taxes pertaining thereto. Finally, the policy of the Treasury on political parties and registration for political office will be made clear.
H, Mountbatten Henry Mountbatten Chancellor of the Exchequer
Monetary Policy
When implementing the economy, it is important to remember that we all need to start off on an equal footing. Therefore, the Treasury will be implementing a rebalancing of the personal finances of all citizens. Calculations have already been made, and a summary of these may be seen below.
Rebalancing Total Finances Combined
£1,255,487 3
Rebalanced Finances
Money to the Royal Bank
Money erased from the Royal Bank
£100,237
£1,169,819
-£1,169,819
In order to allow members of the community to further their careers and maintain economic prosperity, we believe that it is important for everyone to earn their money. It is for this reason, that the Treasury will not be implementing a universal wage program (money per post), within this budget. However, the Treasury recognises the importance of rewarding those who work hard, and as such will be implementing an interest rate of 1% on personal finances.
In order to be able to finance the first budget, and in order to support the growth of the economy, money will need to be injected into the economy. This will take the form of a loan from the Royal Bank to His Majesty’s Treasury, in which the loan will be repaid, with an interest rate of 1.4%.
Money Injected Into the Economy Funds injected into the Royal Bank
£273,037
Taxation Policy Taxes are an important revenue system for the Treasury. However, it is also important to maintain purchasing power, in order to allow the economy to grow.
4
The Treasury will therefore be implementing a Personal Wealth Tax, to all person, this tax will be collected once a month, and shall be in force for the next three budgets.
The Treasury will implement an Estates and Housing Tax, and this shall be collected once a month and shall be in force for the next three budgets.
Tax Breakdown Personal Wealth Tax
4%
Estate Tax
ÂŁ150
House Tax
ÂŁ80
Budgetary Policy The budget for each Government department is laid out below. Financing will be also cover the Royal Household, Parliament and the Supreme Court.
5
HM Treasury Income Loan from the Royal Bank
Outcome £72,80 Grant to the Office of the Prime Minister 0
£14,000
Grant to the Home Office
£5,700
Grant to the Foreign Office
£6,100
Grant to the Culture Office
£2,700
Grant to the Civil Service Grant to Parliament Grant to the Supreme Court Grant to Royal Household Grant to Admiralty Discretionary Spending £72,80 0
£500 £15,500 £5,400 £10,0000 £2,900 £10,000 £72,800
As mentioned previously, the Treasury’s income for this budget will be through a Loan from the Bank of England. The repayment terms for this loan, are yet to be finalised, spending the review of income the Treasury gains over the course of this budget through fees and taxes, although it is expected that the Treasury will receive a second loan for the next budget.
The Treasury’s budget allocates funding to each individual department, and allocates a further £10,000 of discretionary funding. This funding will be used to pay wages for the Chancellor, of £1,000, alongside a £9,000 Business Support Scheme. Details of which will be released following the publication of this budget.
Office of the Prime Minister Income Grant from HM Treasury
Outcome £14,000 Wage – Prime Minister
£1,800
Wage – Deputy Prime Minister
£1,500
Wage – Home Secretary
£1,400 6
Wage – Foreign Secretary
£1,450
Wage – Culture Secretary
£1,450
Wage – Attorney General
£1,400
Wage – Advisor
£1,000
Wage – Advisor
£1,000
Wage – Prosecutor
£1,000
Discretionary Spending
£2,000 £14,000
The Office of the Prime Minister is responsible for providing wages to each Secretary. This is this is the makeup of the Prime Minister’s budget. An allocation of £2,000 discretionary funding has been allocated to the Prime Minister’s Office for unexpected costs and initiatives.
Home Office Departmental Budget Breakdown Income Grant from HM Treasury
Outcome £5,700 Wage – Mentors
£4,500
Wage – Deputy Secretary
£700
Discretionary Spending
£500 £5,700
The budget for the Home Office provides funds to pay mentors. The breakdown of this wage is estimated at £250 per mentor. £500 of discretionary funding has been allocated for programs and initiatives.
Foreign Office Departmental Budget Breakdown Income Grant from HM Treasury
Outcome £6,100 Wage – Ambassadors
£4,800
Wage – Deputy Secretary
£700
Discretionary Spending
£600 £6,100 7
Like the Home Office, the Foreign Office Budget provides funds to pay Ambassadors. The breakdown of this wage is estimated at £300 per Ambassador. £600 of discretionary funding has been allocated for programs and initiatives.
Culture, Media & Sport Departmental Budget Breakdown Income Grant from HM Treasury
Outcome £2,700 Wage – Aurors
£1,200
Wage – Deputy Secretary
£700
Discretionary Spending
£800 £2,700
The budget for the Culture Office provides funds to pay Aurors. The breakdown of this wage is estimated at £300 per Auror. £800 of discretionary funding has been allocated for programs and initiatives.
Admiralty Departmental Budget Breakdown Income Grant from HM Treasury
Outcome £2,900 Wage – First Lord
£900
Wage – Director of SIS
£850
Wage – Lord Stewart
£750
Wage - Soldiers
£400 £2,900
The budget for the Admiralty provides funds to pay for wages of the First Lord, Director of the Secret Intelligence Service and the Lord Steward. A further allocation to allow a wage for soldiers has been made. It is expected that soldiers will be paid on a mission-by-mission basis.
Civil Service Departmental Budget Breakdown Income Grant from HM Treasury
Outcome £500 Discretionary Spending
£500 8
£500
An allocation of £500 discretionary spending has been provided for the Civil Service, in order to run programmes and initiatives.
Parliament Departmental Budget Breakdown Income Grant from HM Treasury
Outcome £15,50 Wage – Lord Chancellor 0
£1,300
Wage – Lords of Parliament
£8,400
Wage – Speaker of the Commons
£300
Wage – Members of Parliament
£5,500 £15,500
The budget for Parliament provides funds of £1,200 for Lords of Parliament, alongside a further £1,100 for Members of Parliament. An additional £300 will be awarded to the Speaker of Parliament in addition to their salary as a Member of Parliament.
Supreme Court Departmental Budget Breakdown Income Grant from HM Treasury
Outcome £5,400 Wage – Chief Justice
£1,800
Wage – Senior Associate Justice
£1,600
Wage – Junior Associate Justice
£1,500
Discretionary Spending
£500 £5,400
The Supreme Court receives funds for wages, and an allocation of £500 for legal aid costs.
9
Royal Household Departmental Budget Breakdown Income Grant from HM Treasury
Outcome £10,00 Discretionary Spending 0
£10,000 £10,000
The Royal Household receives £10,000, for the Sovereign to distribute as they see fit, providing persons are not receiving payment for funds that have already been allocated (for example, receiving funds for being Lord Stewart).
Business Regulation Individuals, groups or organisations wishing to register a business, may do so through via appropriate means in the Treasury. In order to successfully process registration requests, a fee of £100 will be required to be paid to the Treasury. If a registration request is denied, this fee will be returned to the sender. A full Business Standards and Regulations Guidance document will be published in the near future, after consultation with all stakeholders.
10
Estates Individuals and families may apply to purchase an estate. There shall be a cost for all estates purchased. These costs are shown below.
Estate Purchase Fee Estate (1 Board, Picture and 1 Sub board)
ÂŁ500
House (1 Sub board)
ÂŁ250
11
The Crown Estate shall be established, and shall be subject to all estate taxes. More information shall be published on surrounding the Crown Estate after consultation with all stakeholders.
Fees There shall be no additional fees in this budget, pertaining to the registration of political parties, running for public office.
There shall be a name change fee of ÂŁ5.
12