UK seeks teenaged chancellor
In the quest to save money and reduce the deficit, every avenue is being explored for ideas.
The government has already sought input from experts, the public sector and the general public with the Spending Challenge and now the Citizenship Foundation is asking teens for their thoughts.
It is running the ‘Chance to be Chancellor’ competition to find innovative ways to raise money through taxes and save money through balancing the demands of public spending.
The contest is open to all 14-18-year-olds and asks what taxes they would levy, what their budget would be and where they would choose to spend the money they’ve raised. The economic decisions they make will form part of a Youth Budget for this year.
So if you have any budding chancellors at home, get them to make their case here, you never know, it could even inspire the next generation of procurement professionals…
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It is joking. Obviously, ideas come from family members in view of meagre knowledge and little or Nil experience.
I love an idea! My son is not in this range group as yet but one of his clever recent remarks was to give people money to enable them to use some services.And straight away I thought of public health sector. 75 million people, why not to give all with regular health problems 25K per annum to pay for their health needs. I am assuming that half of the society is in this bracket. The exception should be dealt on case to case basis but with the same principle. You are geeting e.g.: £250k to manage your condition etc. In this scenario people manage themselves and they decide to whom and for what to pay!
Purchasing professionals would make excellent Chancellors – they know how to spend money.
Renata: according to the latest edition of ‘The Economist’ the only medicine which might possibly cure all ills is exercise. Why not reward citizens for exercising regularly, and levy extra tax on those who don’t?
Interesting idea and I believe it will help young chacellors to organize their future budget/expenses, becuase they know when and how spen money.
Ian,
I think that on this occasion Economist streched imagination too far but there is a grain of truth in the concept worth exploring.