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UK Economy: Top 5 Radical Ways To Save The Economy

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The UK economy could be in need of some radical thinking in order to recover
The UK economy could be in need of some radical thinking in order to recover

Business leaders have suggested a single 30% rate of tax be introduced in the UK, in what is the latest piece of advice to help boost the nation's struggling economy.

The 2020 Tax Commission report, a joint venture by the Institute of Directors and the TaxPayer's Alliance made the suggestion on Monday, weeks after Britain was declared to be back in recession.

The reforms would see national insurance contributions and stamp duty abolished, and the introduction of single, flat rate and the report claims that a two-earner household with an income of £28,000 would save £3,400 a year in tax.

In the world of business, corporation tax and capital gains tax would be replace by a 30% rate on dividends, interest and rent.

This may seem like a radical idea to boost the economy but there have been far more bizarre suggestions for how to revive economies across the world.

Whether it's a Tory donor wanting to scrap employment laws or a billionaire businessman advocating the legalisation of drugs to boost the Spanish economy, radical ideas are sometimes the best way to instigate conversation and inspire new ideas.

But which are five of the most radical? Click through our slideshow below to find out...

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Radical Ways To Save The Economy
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