Supporting the Ukraine

 There is a considerable need for funds to contribute towards the Ukrainian war and post-war rebuilding.

To pay for current refugees there is considerable pressure on the government to spend more money. There has to be another way to make a significant contribution to the international initiatives in hand.

The method proposed is to invite the population to subscribe to a Ukraine Peace Investment Fund. It is the population making a contribution and not the taxpayer.

Picture DAVID GUTTENFELDER / THE NEW YORK TIMES

The mechanism will be through  ‘Ukraine Peace Mini Guilts’ structured so that ordinary citizens can buy them monthly or annually. The guilts will be a fund administered by the F.O. and will immediately increase payments to people who have Ukraine refugees in their care or to house those who are or have lost their accommodation.

Thereafter funds will be deployed to rebuild roads, water and electricity supplies, schools, hospitals and other public infrastructure in Ukraine.  At a time when there is a need to protect employment, the work will be undertaken with UK tradespeople taking a proportion of the jobs to re-enforce the Ukraine professional and labour force at a time of rising UK unemployment.

Ukraine will be short of human resources because of war losses and with the UK construction industry laying off people will provide jobs for UK citizens.

The mini guilt interest payment will be provided by the Ukraine government receipts from public services (water, electricity etc, etc.). The capital needed at the end of the Guilt’s term will come from the sale of assets created in the process.