Taxation & Tax reform Archives - Page 5 of 5 - Emile Woolf writes

Getting the economy going: cut public sector waste and transform taxes

Getting the economy going: cut public sector waste and transform taxes By now the causes of the economic crisis, and the course of its swift global trajectory, have been explored ad nauseam. But while its bitter consequences are being experienced for a year or three there is much that governments can learn from enforced austerity. […]

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Over-taxed & over-regulated – that’s the reality, whatever they say

Few would disagree that UK business is both overtaxed and over-regulated.  Those at the sharp end know this, despite all the efforts of official statisticians and bureaucrats to tell us otherwise. The Treasury would have it that Britain is becoming more competitive and overtaking rival economies, whereas the CBI argues that higher taxes and obsessive […]

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Borrowers must face the reality of their choices

Since gaining its independence from the Treasury 10 years ago the Bank of England’s pledge to control inflation as its overriding priority has, until now, been visibly honoured and we have all benefited. Unlike the Treasury, however, the Bank’s sole weapon in fulfilling its mission is its autonomy over setting interest rates, and the present […]

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Desperate measures: if it moves, tax it

The purpose of taxation is to pay for the necessary expenditure of government.  Adam Smith spelt out the basics 200 years ago:  the manner in which taxes are raised and spent must be transparent, visible for all to see.   The journey from first principles to contemporary reality leads to a fiscal statute book of […]

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Principled taxation? No – it is not a contradiction in terms

Governments claim to base economic policies on principle, yet results often betray muddled guesswork. Principles have been established for centuries. It is senseless to impose a tax that renders a marginal business unviable – the yield from that business would be zero. Similarly, since tax rates of 0% or 100% yield no revenue it is […]

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