Spending is indeed necessary (but investment, not consumption), only the State can do it in the short term - thus this calls for tax increases, on those that won't see their consumption affected: the rich. In the long run, we're all dead. John Maynard Keynes
I have some (not a lot, but some) sympathy for the idea that reducing taxes at the bottom end, maybe even by 4 - 5%, can provide a stimulus to the high street, which is likely to shed jobs if people rein in. And that sheeding of jobs will reduce confidence still further. I would also like to see benefits improved, ie that people below tax threshold got a bit more to cope with prices.
Naturally, I actually want taxes to rise at the top end, not just in the waged sector but I want significant tax rises and the slashing of exemptions for those who are well above the waged sector and hwo have benefitted disproportionatley over the last 30 years. I want the non-doms taxed, I want the tax exiles creamed, and I want foreign millionaire residents who currently pay nothing to contribute something.
As for spending, I really don't want to bail out hte financial institutions. We simply seem to be encouraging takeovers that make the "too big to fail" situation worse. I personally want a huge increase in social housing; we have a failing building sector that hasn't the confidence to make new build starts and a massive undersupply of affordable housing at the bottom end. This is a great opportunity for the govt to be pro-active in creating jobs and addressing urgent needs. And if I'm wishing for magic ponies I might as well ask for failing manufacturing to be skewed into the windfarm business.
To pay for it I want trident stopped, ID cards stopped, Iraq stopped, those stupid aircraft carriers stopped, the aircraft to go on them stopped, afghanistan turned into something useful. keep to the Fen Causeway