Working tax credits to be phased out over a year and replaced by a workers supplement in the form of silver coins called shillings, worth £5 at the outset, but the exchenge value will be adjusted so as to maintain the purchasing power in the face of inflation, so becoming £6 in about 6 years.
China now sees western currencies as simply representing government debt and has reached an understanding with countries such as Brazil, Russia, India, South Africa, The United Arab Emirates, Chile, Iran and Japan to use their own currencies, or barter, instead of the US dollar for international exchanges. We will need to have something these countries want if we are to continue to buy from them. Although to begin with the shilling will have value because it can be exchanged for the pound, in a few years the pounds value will be supported because it can be exchanged for the shilling.
The workers supplement will be paid pro-rata for part-time working. The full rate will be for full time on minimum wage to minimum wage plus 30%, and above that it will reduce by 14% of your income above 1.3 times minimum wage, so it will reduce to zero at about 500 pounds a week.
The supplement is only for certain types of worker. Those who work in industry or construction and who do the actual work, including maintenance, cleaning, but not what might be described as office or management work. Farm workers who actually do the real work are included, and telephone switchboard operators, and call centre operators who recieve calls from the puplic.
The idea is to encourage home manufacture of goods instead of impoting them from china and the like. Call centres are another type of job that is leaving the country. But the new govenment will encourage telephone operators based where the real work is done rather than call centres, except where it is geuinely a central place of allocation.
The jobs excluded are the service industries, office jobs, and shops. Jobs working on computers, are excluded, but manufacture maintenace and repair will be included.
Repair work of all kinds will be included, this is usually better for the environment and often saves on imports.
