We are working on a brand new version of the game! If you want to stay informed, read our blog and register for our mailing list.
Bill: CP.0093.2567 Direct Payment Act
Details
Submitted by[?]: Conservative Party
Status[?]: passed
Votes: This bill is a resolution. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: September 2572
Description[?]:
| Summary: ------------- 1. Sekowo currently employs a dual-system of cash and direct payments. 2. replace cash with direct payment 3. machine installation, upgrades and adoption starting January 1, 2573 4. last cash payment December 31, 2575. 5. 2 Billion SEK in Ministry of Finance savings Detail: -------- History: In October, 2664, the Ministry of Finance receive information pertaining to a way of cutting costs and fraud in nation-wide consumer and government spending. During the month of March, 2565, a small-scale simulation was undertaken and the project encountered minor logistical issues but on the whole proved successful. In September, 2565, a second small-scale run was attempted and proved successful with no issues encountered. During the months of February to March, a large-scale simulation involving all five federal districts was undertaken by the Ministry. Over the pass few months, the data gathered was analysed and the successful result of the simulation proved this was a necessary improvement to the Sekowan economy to further our growth. Ministry Savings: The Ministry of Finance is formally requesting an end to all physical cash payments methods (bills and coins) and be replaced by direct payment cryptographic contact-less smartcard methods (debit cards, credit cards). This reduces the budget for the Ministry by 2 Billion SEK through reduction in wage expenses, operational expenses and write-off expenses (of unusable/torn money). The non-usage of cash (bills and coins) eliminates the need for the government to print bills or coins. The collection of income, corporate and consumption taxes will be easier as all information will recorded and it will be a simple print-out. Deductions will still have to be done by tax-payer. Business Savings: Fraud is a problem for businesses and a problem for government. It lowers revenues. Smart cards reduce fraud. Technologies already exist to combat fraud. By only having one payment method, cashiers can spend more time training to detect the sole type of fraud category. At the end of a business day, a cashier does not have to count cash. A store will not longer have their cash registers robbed. Direct payment permit effecting and efficient business transactions in a quick, flexible, secure, standardized way with minimal human intervention. Security Strategies: The current budget funds allocated to combating cash fraud will now be merged with the funds for direct payment fraud. Although the difficulties of revenue collection will be reduced, no changes will be made to the collection fraud department. The choice of cryptographic contact-less smartcards was based on it's security features, durability and ease-of-use as tested in ministerial simulations. |
Proposals
Debate
These messages have been posted to debate on this bill:
| Date | 01:52:27, April 26, 2008 CET | From |  帝国公明党 (Teikoku Kōmeitō) | To | Debating the CP.0093.2567 Direct Payment Act |
| Message | We would support this on the conditions that the utmost cyber security be used to prevent money from being generated from nowhere. Secondly we believe the government should have the equivalent amount of all money in Sekowo in precious metals to insure the economy does not disintegrate in the event of a cyber attack of EMP. |
| Date | 02:28:03, April 26, 2008 CET | From | Conservative Party | To | Debating the CP.0093.2567 Direct Payment Act |
| Message | Of course. Cyber security is one of the many sections of the project tested in every simulation. Ministry of Finance will be spending lots of money on joint-ventures with financial institutions through the years 2568 and 2569 to upgrade their current system to a standardize minimal level to handle both security and bandwidth. Although current banking systems are more than capable in terms of security and reliability. Using precious metals as the base for a monetary policy is prehistoric and no longer used in economics. Sekowo uses an "inflation targeting" monetary policy. OOC: This is based on real life. The "gold standard" which you refer to died in the 1970s. Today, reserve assets are based on "reserve currencies". Really interesting stuff especially in how it affects the behaviour of countries in affecting the value of their own currency. Sekowo is incapable of being a trend setter so that's why I make the basic assumption that we are "inflation targeting". U.S., who is owner of the de-facto world reserve currency, has a different one -la-Greenspan. Fascinating guy. The world holds reserve of U.S. currency as their "precious metals". Since 2000, the value of U.S. currency has gone a bit down, most countries are buying into the Euro. I don't even hold any U.S. currency in my investments. Buy into it when it's a bit cheaper and then watch it spring back up. |
| Date | 06:21:29, April 26, 2008 CET | From | 帝国公明党 (Teikoku Kōmeitō) | To | Debating the CP.0093.2567 Direct Payment Act |
| Message | OOC: IMO it's a terrible idea to make money based on other money. I've just assumed that we've based our currency on Silver, Gold or Platinum. |
| Date | 08:28:53, April 26, 2008 CET | From | Normand Pluralist Party | To | Debating the CP.0093.2567 Direct Payment Act |
| Message | Oppose. A completely digital economy would be a dangerous thing. |
| Date | 22:17:37, April 26, 2008 CET | From | Conservative Party | To | Debating the CP.0093.2567 Direct Payment Act |
| Message | What ways do you see it as being dangerous? Maybe these dangers have already been addressed. Note that currently direct payment already exists in parallel with cash payments. How would there be more danger than the present system? |
| Date | 00:44:04, May 07, 2008 CET | From | Anti-Federalists of Free Sekowo | To | Debating the CP.0093.2567 Direct Payment Act |
| Message | Imagine an attack. We lose the system, and our economy is fried. We need to be able to have hard cash available for savings, etc. Something concrete, for emergencies. |
| Date | 10:50:59, May 07, 2008 CET | From | Normand Pluralist Party | To | Debating the CP.0093.2567 Direct Payment Act |
| Message | The Anti-Federalists make a good point. |
| Date | 00:41:55, May 08, 2008 CET | From | Conservative Party | To | Debating the CP.0093.2567 Direct Payment Act |
| Message | Everything is possible. True. However, with necessary precautions, it's near enough to impossibility. When an apocalypse does come, having an economy will be the least of people's worries. (OOC: In real life so I assume in game as well) Banks, credit card companies, exchanges (stock and currency) and the government (currency exchange) work already in a digital environment. It's not realistic to be handing a billion dollars in cash to a person. (OOC: unless you are Montgomery Burns from The Simpsons). |
subscribe to this discussion - unsubscribe
Voting
| Vote | Seats | |||
| yes | Total Seats: 292 | |||
| no | Total Seats: 130 | |||
| abstain |
Total Seats: 178 |
| Random fact: Make sure to check out Particracy's wiki. http://particracy.wikia.com/wiki/Main_Page |
| Random quote: "The payment of taxes gives a right to protection." - James M. Wayne |