An Economic Fix?

Just seen an idea which has a certain amount of kudos and benefit for our economic woes, and presented as a tad 'tongue-in-cheek'.

Problems:
Unemployment: Rising
Quangos: Proliferating
Banks: Broke
Car Industry: On its knees
House Building: Non-existent.
Government Emascuated: Due 75% of laws coming from the EU

Cure:
Pay everyone aged 50 and over, still working, £1million to retire on condition (a) they buy a house and (b) they buy a new car. Balance of monies to be invested in banks and used to provide a self-financing pension.
Disband all quangos and cease employment by local authorities of such positions as Diversity Advisers and other similar 'non-jobs'.
Withdraw from membership of the European Union.

At a stroke the above solves (a) unemployment, (b) reduces bureaucracy, (c) injects much needed capital into the banks, (d) rejuvenates the car and house-building industries and (e) returns government of the British people to the British people.

Got to be cheaper than £1.4trillion - no?