The Football League

I was listening to Good Morning Britain today and was a bit surprised to hear this season should be declared null and void if the rest of the games cannot be completed.

The topic of probability is believed to have been invented when Pascal et al discussed how to resolve a gambling dispute. A game had been interrupted and he had been asked to see how best to share the bets based on the current position. Although how to resolve this football conundrum is not based on simple chance, could a solution be found that is considered to be the best of a bad job? I am going to look up if Stato from Football Fantasy League has data that can be used in a minute, but there must be hundreds of people who could look at the odds and base predictions on how the league would have turned out.

The odds on Liverpool not winning the league this year must be miniscule. However, reaching the Champions league and relegations etc will have varying degrees of doubt. If it could be decided who would be promoted, for example, a second calculation could be made of a share of revenue that club would receive. This could be based on the amount of uncertainty placed on the result and could be given to the club that missed out.  Likewise, if a Premiership team was relegated they could share in some of the revenue of the team that stayed up. Another solution could be that if it was decided a few games could be played their value could be decided in advance. If it just cannot be decided who goes up or down in a few cases a throw of a multisided dice! This is just a quick look at this and would think more sophisticated approaches could be found.

A one off wealth tax.

I saw a headline for a one off wealth tax today in a paper and this needs to be challenged. I will not go into the reasons now but most should become apparent whist reading my alternative solution.

First off all a 50% super tax on any assets or capital moved from the jurisdiction of UK tax regulations. This would go on company balance sheets to be payable in five years’ time at a percentage much like student loans.

According to Office for National Statistics the market value of financial and non-financial assets for the UK was 10.4 trillion pounds in 2019.

So next a wealth tax of 0.0004 % in the first year could then be levied. A person who owns a £250,000 house without a mortgage would pay £100 for example.

This should raise £4 billion. HMRC budget could then at best be doubled but in any case the extra resources could be spent tracking down and prosecuting those who evaded the tax in the first round.

It would create like the NHS a service where the brightest and best of our society would be proud to work. HMRC and the public could then see what the next round of tax should be, how it is being evaded, avoided and for whom it would be the fairest to be charged. After say four years we could then see if any of the super tax needs to be payable as some companies would have made legitimate business decisions.

You never know it might be possible to look and see if any other past financial injustices could be rectified. It is likely that over time with a fair and transparent tax system you will get that £100 back but what is certain we cannot blame the EU for injustice in our society anymore.