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To: The Chancellor of the Exchequer the Rt Hon Philip Hammond MP.
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N Regarding: New Source of Government Income.
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Monday, 10 September 2018

I have enclosed a letter and an attached article, which were originally sent to the Prime
Minister, for your perusal. The contents puts forward the suggestion of a new government
department for revenue generated from international trade based on innovation and
efficiencies. You may wish to use the idea to support your own political agenda. I work cross
party and have sent the enclosed documentation to the leaders of all of the political parties.

Kind Regards.

Peter James Rhys Morgan.

Website: morganisteconomics.blogspot.co.uk
Copyright © 2018 Peter James Rhys Morgan.
P J R M I
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M O R G A N A To: 10 Downing Street
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A To: The Prime Minister Rt Hon Theresa May MP.
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Regarding: A New Source of Government Revenue.
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E Monday, 10 September 2018

I am a freelance macroeconomist who develops new tools and policies to provide economic
efficiencies and progress. I have been working on reducing the level of government debt,
which has surpassed £1.8 Trillion. There is currently an annual deficit, which is adding to the
overall debt extending the problem further. An increase in government income is required to
bring the public sector back into surplus. The government currently operates a very limited
revenue source model, which mainly consists of taxation income or further government debt.

Most of the sources of income derive from the domestic economy solely, which is limited to
a share of UK GDP. There is a global economy worth many times the UK GDP, which the
British government can be part of through international trade. I have enclosed an article I
wrote called, 'Trade is better than tax', it explains the inadequacy of the revenue model used
by the UK government at the moment. It then puts forward the suggestion of entering the
global market through, 'Internationally Commercialised Innovation', (ICI) to create income.

Although the process would be a public sector activity, when governments trade on an
international level it becomes a free market operation. This can easily be entered through
revamping government systems and processes commercialising any upgrades or efficiencies
developed. New product lines can be licensed and sold internationally with the government
taking its cut. By the government sharing ownership of new innovations it guarantees it
receives the income generated from international trade boosting revenue, reducing its deficit.

It might be worth launching a new government department for external revenue generated
from international trade. The, 'Outland Revenue Service', (ORS) or, 'Her Majesty's Revenue
Internationally Commercialised Innovation', (HMR ICI). This would provide a second
revenue source and diversification, which could compensate for domestic economic issues. It
will also enable the public sector to provide a surplus of income and may take away the need
for such high rates of taxation. As it would require a new department, it needs your approval.

Kind Regards.
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Peter James Rhys Morgan. O
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Website: morganisteconomics.blogspot.co.uk B
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Copyright © 2018 Peter James Rhys Morgan. L J O
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Trade is better than tax!
By Peter Morgan.
21:33 21/08/2018.

High public sector debt which is still growing with an annual deficit of £40.7 Billion in the
UK, requires government revenue to grow to repay it. The method of choice used at present
to generate government income is taxation defined as, "A means by which governments
finance their expenditure by imposing charges on citizens and corporate entities."

There are limits to taxation, first in entirety, you can only take 100% of GDP in tax, there is
no free market economy. Choice is taken away from the consumer the centrally planned
government makes decisions on everything, this is a purely command system economy.
Second in limitation, taking too much taxation inhibits economic growth in the free market.

There are arguments as to the most efficient forms of government, most are part command
system and part free market, 'mixed structure', economies. Economist Arthur Laffer claimed
too high a rate of taxation caused the working population to reduce their productivity due to
the government receiving too much of their output, demonstrated with the Laffer Curve.

Either way, whether the economy is purely a command system economy or a part free market
mixed economy, government taxation revenue is limited to the domestic economy solely.
You can only tax your domestic economy, but you can trade with the rest of the world.
Commerce with other countries around the world will enable government income to grow.

Trading with other countries can increase the size of the economy the government can receive
income from. Taxing the free market is limited even if firms operate on an international level
as tax is not always owed to the domestic government. Simply expanding international trade
through the free market will not necessarily generate government income, which is required.

By the government producing its own product line and selling to the foreign market it can
guarantee the revenue generated is received by them. Foreign trade, especially global trade,
expands the size of the potential income of the government from being 100% of domestic
GDP to anything the international economy can produce, maximising government revenue.

The potential of increasing government tax receipts alone is reason to expand public sector
new product development and commercialisation on the international stage. It is when the
other advantages this method of generating government revenue which I call, 'Internationally
Commercialised Innovation', become apparent that the true benefits can be seen and utilised.

The new revenue generated from Internationally Commercialised Innovation, 'ICI', has no
negative impact on the domestic economy. High rates of taxation limit free market growth
and take away consumer choice. Internationally Commercialised Innovation will help to
generate money needed to close the public sector deficit and pay off the overall debt safely.
Website: morganisteconomics.blogspot.co.uk
Copyright © 2018 Peter James Rhys Morgan.