A vaccination for the British disease. Increasing our competitiveness and defeating complacency.

1. Bonuses in the form of shares should be the most tax-efficient form of rewarding employees provided that they are held for at least a minimum period. Early sale of shares from an employee's bonus fund will result in an early redemption penalty; an employee will always have an incentive to hold onto the shares in his or her bonus fund.

2. A temporary freeze on the national minimum wage. The minimum wage is only one part of an anti-poverty strategy; fair taxes and benefits and sustainable economic growth are just as important. Although we cannot compete directly with low wage economies, we cannot afford to ignore international competition*.   Allowing the minimum wage to rise too high will destroy jobs and exclude people from the labour market.

3. The statutory retirement age should be increased to 68 and 'index-linked' to the future increase in average life expectancy. As a guide we should expect that 50% of increased longevity should be added to the working life (even if this is on a part time basis). Our senior workers are an invaluable resource.

4. All employment vacancies not filled internally should be notified to Job Centres to increase labour market efficiency and equality of opportunity. Measures should be implemented to tackle hidden unemployment.

5. Our aim is that 45% should be the maximum effective marginal tax rate anywhere within the tax and benefit systems.

6 . The 55% deal. Any person, whatever their income, who earns an extra £100 will have a statutory right to retain a minimum of £55 - after income tax, national insurance and any adjustment of means-tested and housing benefits. If this is not achieved for any reason, an individual will be able to claim a rebate from the Inland Revenue.

7. Workers' co-operatives and registered charities should be exempt from paying the minimum wage. With employee consent and on a non-exploitative basis, these organisations are able to undertake valuable work which would otherwise be neglected by normal market forces.

8. For large transactions the euro should be legal tender in the UK. Other measures should be introduced to make the euro a parallel currency e.g. low cost convertibility provided by Post Offices, banks and supermarkets. The exchange rate would not be fixed.

9. Buy British - but only when our products and services deserve it.  A range of standards’ labels should be promoted highlighting the strong ethical, environmental and quality standards achieved by British businesses - for example the mark of the Soil Association and the Fair Trade label.  Each region should create their own additional labels reflecting regional specialisms and there should be a national campaign to promote local produce.

10. Our aim is that everyone should have a "UK High Risk Account" (HRA) alongside their lower risk savings and investments. Investors should spread their HRA investments over time and should be able to choose from a broad range of qualifying funds (i.e. they pick the winners). Our future economic success depends upon a willingness to take calculated risks in support of innovative UK businesses.  [Click here for further details on 'picking winners']

11. Companies will be required to report energy use for all their large premises. Electricity and gas companies will be required to provide on-line, real-time monitoring of energy use for all large business premises. This will allow companies to observe the immediate difference made by switching off computer monitors, lights and photocopiers, for example.

* And we cannot justify a fixation with relative inequality solely within the UK (see section on Global Poverty, click here).