Yes, this is essentially an expanded version of an earlier satirical post. But it's three times as long, so most of the jokes are new. Read it anyway.

There is no good reason why the business of holding democratic office should remain Britain’s last nationalised industry.
New Labour could act in a manner consistent with the free market principles that have secured three successive election victories, and build on the leading position already achieved in the sale of peerages, simply by privatising all public office from the monarchy downwards.
In addition, honours that do not come with political positions attached - from gongs to knighthoods - could openly be flogged off on the basis of a published tariff, for the benefit of the public purse. Together, these money-making ideas could generate revenue on a scale sufficient to pay for Britain’s participation in the invasion of the next Middle East country Washington decides to take on.
Meanwhile, such a radical market-driven democratisation of the entire honours system could be sold to the public as an extension of choice, much in the same manner as New Labour justifies the privatisation of the NHS.
New grades of honours could be made available to the public at a range of prices within the reach of all, empowering those in all walks of life and thus ensuring the popularity of the scheme.
It is already clear that there can be no argument against the propositions above on grounds of general democratic principle, as a precedent has already been established. New Labour has been flogging the right to wear ermine for some years already.
Sir Christopher Evans - the biotech entrepreneur who lent the Labour Party £1m in the run-up to the 2005 general election – made a contemporaneous note of a conversation with Labour fundraiser Lord Levy, as follows: “Wd you like a K or Big P?” The initials, he has since confirmed, stand respectively for knighthood and peerage.
Yet Levy has twice been arrested in connection with the cash for peerages affair. If he were to face trial for his role in implementing what has been standard practice for governments from the days of Lloyd George onwards, there is grievous danger that the British political class will be lowered in the public esteem. How much better, then, to recognise reality and put existing practice onto a regulated footing.
But the question then arises, why stop at Ks and Ps? Why not sell seats in the House of Commons, too? Why not sell seats in Town Halls across the UK? In line with established New Labour thinking that it does not matter whether a service is delivered by the public sector or the private sector, so long as it is free at the point of use, why not privatise the role of the monarch, who remains Britain’s head of state?
Finally, why not sell honours in all shapes and forms? In line with this populist vision, the whole honours system could be deepened and extended in a transparent fashion, on the basis of a new ‘diffusion range’ of lower-level honours, inspired by the lower-price mass production ranges produced by leading fashion designers.
Social cohesion would thus be massively increased. The ‘right to buy’ council housing and the de facto giveaway of shares in nationalised industries through underpricing won the key c2 demographic for Thatcherism by allowing it to take ‘a stake in society’. The principle of triangulation suggests that New Labour should go one further in introducing the right to buy honours, allowing many more people to ‘buy in’ to the system.
At the top end of the scale, the use of market mechanisms would surely lever up the price of a ‘Big P’ from present nugatory levels. Footballer Andriy Shevchenko cost Chelsea £30m, remember. It considerably devalues the prestige of a rent-a-peerage to know that they can be had for as little as a £1m loan.
That kind of money is probably a suitable flat-rate tariff to enjoy, say, a seat on Hackney council Labour group for a set four-year term. For many private sector concerns, such investment would be entirely commercially justifiable to shareholders.
Local government outsourcing service providers, for instance, might consider buying a majority of the places on selected New Labour local authorities, allowing them to award themselves all available contracts. Why let political activists have these valuable positions free of charge, simply because they have convinced people to vote for them?
Private companies are encouraged to own ‘academy’ secondary schools and Private Finance Initiative hospitals and prisons. So why should they not own councils themselves? Not only would the scheme pay for itself, but sweeping reductions in council tax would thus be made possible.
Let us consider central rather than local government. Let existing MPs either retain or sell their seat at each general election, thereby enabling the hidden hand of the market to establish the correct market-clearing equilibrium price.
This would ensure that each seat would go only to the consumer who derives maximum marginal utility from buying the constituency, thus ensuring allocative efficiency through Pareto optimality.
All this should be entirely acceptable to the Conservatives, as it is organically rooted in British political tradition prior to the first Reform Act of 1832. Many of the great figures in the Tory tradition entered parliament to represent rotten boroughs.
Old Labour diehards may object that purchasers of Labour seats might have ideologies incompatible with traditional Labour values. This need be no disqualification. After all, a number of former Thatcherite Tory MPs have already decamped to New Labour. Shaun Woodward and Alan Howarth have been entrusted with ministerial office.
Remember also the savings to be had from not having to hold elections, including such overheads as the Labour Party’s hefty outlay on buying postal votes. Both the taxpayer and the parties themselves will be quids in.
As we have established, the Lords has partially been privatised already. The practice needs simply to be generalised. That leaves only the royal family, which for hundreds of years has operated on the hereditary principle. And where has this gotten us? There is a real risk that the next monarch will be a man who talks to plants and wishes he was a tampon.
Yet as the historical precedent of the Glorious Revolution of 1688 underlines, there is an alternative. We can look elsewhere, even outside the country, for a new head of state.
This, obviously, is a premium product, for which a premium price of double figure billions could be expected. In practical terms, such sums mean that applicants will be restricted to businesspeople of proven ability, such as King Richard Branson IV or easyKing Stelios I.
Remember that Roman Abramovich – who has transformed Chelsea into a world class football team by throwing money at the club – has already purchased the governorship of the Chukotka autonomous okrug in the Russian Federation for himself. Perhaps he could be retained as a consultant, in order that Britain can benefit from his knowledge of ‘best practice’.
Alternatively, Abramovich may wish to gift the job to a suitable younger member of the Romanov dynasty. As the experience of the Hanoverian dynasty shows, lack of English language ability is not insurmountable.
It would probably be advisable to put the job of heading up the Church of England out to separate tender, in order that equal opportunities policies can be seen to apply. After all, the established church slot brings a number of House of Lords seats with it. This could provide an opening for some wealthy third world Pentecostal sect to underpin its social standing in the UK.
Let us deal with some objections that the curmudgeonly will surely raise. Some might argue that this privatisation programme is an affront to democratic process. Yet as things stand, the House of Lords and democracy have not even nodding acquaintance. Direct sale of peerages is surely neither more nor less undemocratic than either patronage or the hereditary principle.
Making Lords appointments transparent – perhaps under the oversight of a regulator on the OfCom model – will actually render the process more democratic than at present.
Not one single MP is elected with the backing of the majority of his or her constituents. This is even more so the case with councils. Turnout in municipal by-elections is often less than 10% of those on the electoral register. So not a single MP or councillor in Britain can properly be said to have a mandate.
Others will object that the privatisation of political power delivers too much power into the hands of the rich. Again, this criticism falls. All mainstream political parties currently defend the political interests of their wealthy backers anyway. What I am proposing is simply to make the wealthy pay directly for a system that already operates largely for their benefit.
Finally, to counter any accusations of elitism, I also advocate the democratisation of the honours system. As well as existing honours, let us create a new entry-level honour, awarded to all British citizens as of right.
As the British Empire now exists only formally, there is no practical reason why what is officially known as the Most Excellent Order of the British Empire cannot freely be conferred to all and sundry.
Any cost could be defrayed by seeking commercial sponsorship. Everyone would thus be entitled to call themselves, say, a Carling Black Label Milk Monitor of the British Empire.
Higher up the food chain, new honours could be made available for as little as £50 - preferably in used fivers - to become an Barclays Premiership Under Assistant West Coast Promotion Person of the British Empire. For the status conscious, similar titles could be made available at numerous pricing points, from £500 upwards.
For £50,000, people could even be allowed to select their own title. So if anyone would like to be made, say, an Official Fag Hag of the British Empire and is willing to spend some of the gains made on her former council flat during the recent housing boom, why not?
Maybe New Labour could strike a deal with Daily Express boss Richard Desmond. They could give him a dozen of these bespoke titles to use as competition prizes ... provided only that the pornography billionaire makes another six-figure donation to New Labour funds.