In the wake of Brexit, George Osborne planned to “woo business” by reducing corporation tax – already heading for 17 per cent, the lowest rate in the G20, by 2020 – to less than 15 per cent. Will Philip Hammond, the new Chancellor, now follow through this plan, and would this be a step towards making the UK a tax […]
Nicholas Shaxson argues that a corporation tax cut may increase revenue for big business but this does not in any way translate to increased revenue for the country in which they reside. Corporations the world over sit on vast sums of wealth and without a tax on revenue, economic growth and vital public services will remain all the more elusive. […]
Any suggested increase in revenue and investment as a result of a lowered corporation tax is merely political fantasy. John Christensen argues that a cut in the corporation tax would lead to a distorted and unequal economy. Cutting corporate tax rates has been a core political mantra for the past 30 years. It is popular with politicians who find it […]
Our high corporation tax is punishing successful, revenue generating companies. Tim Knox argues that the Coalition government should cut the tax immediately so businesses and the country at large can reap the benefits of restored growth, innovation and a simplified tax regime. We have heard rather a lot recently about how we must not tolerate “high rewards for failure”. There runs […]
The Equalities Impact Assessment (EIA) conducted for the 2011 Budget, while a welcome development given the lack of impact assessment in last year’s Emergency Budget, is severely lacking in rigour and scope. Amy Watson, co-ordinator of the Women’s Budget Group (WBG), presents research from the WBG and the Fawcett Society, which focuses on the government’s policy of reducing corporation tax and […]
Richard Hyman offers this short comment on the 2011 Budget in light of Saturday’s demonstrations in London.
Last week’s budget was a footnote to the agenda already in place. The rise in VAT to 20 per cent is a regressive tax that hits hardest those with the most limited means. The savage public expenditure cuts could cause […]
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