Sequence 14




Status: Needs Review

the community of the incubus of vast interest charges--in so
large a part a legacy from the War, when lives--not wealth--
were conscripted. No private desire for gain must stand in the

The Socialist Government must, as part of its budgetary pro-
gramme :--

Reduce the deadweight and interest of the National Debt
and other public debts;
Increase Death Duties and limit the Inheritance of Wealth;
Increase Income Tax and Sur-Tax on all large incomes.

Thus a Socialist Government can and should take the first
great steps in the direction of an equitable distribution and a
right use of the national income; it will relieve the community
of a vast incubus of interest payments and establish the means
for the revitalising and reorganisation of the economic life of the
country on prosperous foundations.

On no account can a Socialist Government when transforming
industries or services to public ownership carry forward in the
form of capital repayment the colossal claims which have been
built up in favor of private capitalists. Compensation to pre-
vious owners should therefore take the form of providing income
allowances for a period of years, but should include no provision
for capital repayment save in the case of working-class funds,
trust funds for socially useful purposes, and individual cases of
proven hardship.

Socialism is concerned not only with the transformation
of economic life, but also with social relationshipd arising
out of Capitalism. Class divisions are nowhere more evident
than in our present educational system, and a Socialist Govern-
ment must at once organise a complete system of Free Education
from nursery schools to university, on the principle of equal
opportunity for all children, in which the environment is such
that all capitalistic bias and caste prejudice will be eliminated.

Freedom and Empire

A Socialist Government must throughout work in accord-
ance with an Economic Plan, proceeding with ordered
speed in its task. Such a plan must have regard not only to
the internal situation but to the external relationships. Indeed,
a co-ordinated and direct attack on key positions in Capitalism,
of which the control of external trade is an essential part, will
necessitate a new attitude towards other countries, towards the


Notes and Questions

Nobody has written a note for this page yet

Please sign in to write a note for this page