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Bill: Economic Liberalization Act
Details
Submitted by[?]: Democratic Party
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: February 5198
Description[?]:
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Proposals
Article 1
Proposal[?] to change The banking system.
Old value:: The government operates and owns all banks.
Current: The government operates a central bank and all other banks are private.
Proposed: The government operates a central bank and all other banks are private.
Article 2
Proposal[?] to change Central Bank oversight and regulation (if a central bank exists)
Old value:: The government appoints the head of the central bank and an executive board to manage the central bank but does not otherwise interfere in its operations.
Current: The central bank is underneath the direct oversight of the national legislature.
Proposed: The central bank is underneath the direct oversight of the national legislature.
Article 3
Proposal[?] to change Government policy towards alcoholic beverages.
Old value:: Alcoholic beverages are regulated by local governments.
Current: Alcoholic beverages may be purchased only from licensed sales outlets, and can only be available to adults.
Proposed: Alcoholic beverages may be purchased only from licensed sales outlets, and can only be available to adults.
Article 4
Proposal[?] to change Government policy on cryptocurrency.
Old value:: Cryptocurrency is legal and regulated, the state will issue it's own cryptocurrency.
Current: Cryptocurrency is illegal.
Proposed: The government has no policy on cryptocurrency
Article 5
Proposal[?] to change Policy on the charging and collection of interest on loans
Old value:: Charging interest on loans is illegal
Current: The central bank determines the policy on charging interest on loans (if one exists)
Proposed: The central bank determines the policy on charging interest on loans (if one exists)
Article 6
Proposal[?] to change Energy regulation.
Old value:: Energy is provided by nationalised companies.
Current: Energy is provided by nationalised companies.
Proposed: Energy is provided by private companies but the prices they can charge are regulated.
Article 7
Proposal[?] to change Exchange rate regime
Old value:: The exchange rate of the national currency is fixed by the government.
Current: The exchange rate of the national currency is allowed to float, but the government is permitted to intervene when necessary.
Proposed: The exchange rate of the national currency is allowed to float, but the government is permitted to intervene when necessary.
Article 8
Proposal[?] to change
The government's policy regarding foreign investments.
Old value:: Foreign investors are not allowed to invest in national companies.
Current: Foreign investors may freely invest in national companies.
Proposed: Foreign investors may invest in national companies, but may not get a majority share.
Article 9
Proposal[?] to change Government policy on industry and subsidies to industrial operations.
Old value:: All industry is owned and operated by the state.
Current: All industry is owned and operated by the state.
Proposed: The government acts as an investor of last resort, by nationalizing failing industries that provide vital goods or services.
Article 10
Proposal[?] to change Reserve requirements for bank loans
Old value:: There is a fractional reserve requirement for bank loans, but small banks and credit unions are exempt.
Current: There is a fractional reserve requirement for bank loans.
Proposed: There is a fractional reserve requirement for bank loans.
Article 11
Proposal[?] to change The government's position towards the stock exchange(s).
Old value:: Stock exchanges are banned.
Current: Stock exchanges are allowed but are regulated.
Proposed: Stock exchanges are allowed but are regulated.
Article 12
Proposal[?] to change Policy on profit sharing
Old value:: Companies are required to distribute a majority fraction of its profits to employees.
Current: The law does not mandate or encourage profit sharing programs.
Proposed: Companies are required to distribute a minority fraction of its profits to employees.
Debate
These messages have been posted to debate on this bill:
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Vote | Seats | |
yes |
Total Seats: 435 | |
no | Total Seats: 0 | |
abstain | Total Seats: 0 |
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