Harringay, Haringey - So Good they Spelt it Twice!

How about this for an idea

Increase council tax by 10 or 20 %. The the next year give every member of Harringay a bond. At the end of year allow everyone to cash their bond with interest from those that lost their bond plus interest( 7% interest in total). This would be protected for 98% of the public because of the 98% payout rule. However Haringey's worst offenders of anti social behaviours lose the bond for that year.

Then allow the majority of good citizens the opportunity to save their bonds (or just the interest from your bond) for five or ten years and loan at higher rates of interest to local businesses or the council or possibly even swap for shares of new local public / private initiatives and hence give life to a whole new bunch of local initiates.

This would incentivise neighbourly behaviour and help fund new local projects and help encourage people to save in a more profitable way that gives you 7% interest.

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Permalink Reply by John McMullan on October 15, 2013 at 12:19

I've wondered about ideas around the issuing of bonds by the council to help pay for services but not for social control. Really I think we as citizens need to tell our neighbours when they're really out of line. This will just make poor people poorer, I doubt they'll change their behaviour - ego, pride etc. How long before losing your bond becomes a badge to wear that means you're hard?

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Permalink Reply by james walsh on October 15, 2013 at 13:10

Most of those on housing benefit do not pay council tax and will be untouched by your scheme. Good idea apart from that drawback.

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Permalink Reply by Neville Collins on October 15, 2013 at 16:41

@Finsbury Park Ranger

"Increase council tax by 10 or 20 %...."

Given that the borough already has some of the highest council tax levels in the UK, such a plan, which would need to be subject to a public referendum, would be doomed to failure.