The 62-year-old former Top Gear presenter wrote in his column for The Sunday Times newspaper that he believes the best policy to save the UK economy is not to tax more but spend less - by getting rid of the National Health Service.
Clarkson said: "To solve the economy what we need to do is make sensible cuts in all government departments, cutting their staffing levels by, say, half. And then, rather than reducing them still further to the point where they don’t work at all, we get rid of one entire department altogether."
He went on: "Many people are now saying that we should rid the country of the monarchy because this ancient institution is no longer relevant. I respect that point of view, and I hope they respect mine when I suggest the department that has to go is the NHS."
The Who Wants To Be A Millionaire host was responding to new Prime Minister Liz Truss's latest budget announcements.
Clarkson said: "The truth is that the economy is un-understandable, and completely un-runnable... which means it’s all guesswork, and anyone can do that."
The Clarkson's Farm star added: "We are all paying enough tax as it is, and it’s not enough to pay the bills. So we need another solution. Which isn’t printing more money, because, for reasons no one understands, that makes inflation worse."
Clarkson is said to have a net worth of £55.8 million.
Watch: Who Wants To Be A Millionaire contestant lets slip secret on live TV
He studied Economics at A-Level, although admitted he struggled to understand it and had terrible exam results.
But The Grand Tour presenter does not believe that taxing the richest people in the UK will not raise enough money to fund government spending at its current level.
Clarkson bought a country estate in Chadlington, Oxfordshire, in 2008 and around 2019 began running it as a working farm, which he documented for Amazon Prime show Clarkson's Farm.
In June 2021 he declared his Diddly Squat Farm had been an "expensive failure".
He revealed many of his farming ventures including growing jalapeno chilli peppers, potatoes and potatoes and rearing chickens, trout and sheep had lost him money.
The TV presenter sells his produce at his Diddly Squat Farm Shop, which has been overrun with fans of the show.
And earlier this year he opened an on-site steak restaurant, which has been branded "overpriced".