In this paper, we model the revenue that could be raised from an annual and a one-off wealth tax of the design recommended by Advani, Chamberlain and Summers in the Wealth Tax Commission's Final Report (2020).
'The real problem is that spending can happily grow at 3 per cent a year if the economy is also growing at 3 per cent a year. It isn’t and it won’t, not least because of the chilling effect that Brexit will continue to have.'
In most of our analysis of education spending, we focus on spending in England to ensure comparability. In this observation, we expand our analysis to show the level and changes to school spending per pupil across the four nations of the UK.
Earlier this week, markets reacted to comments by the governor of the Bank of England by bringing forward their expectations of when interest rates will rise. What will this mean for different generations?
By 2026, despite the sharp reduction in borrowing, the UK is forecast to see the second-biggest increase in government debt out of 28 economies for which comparable forecasts are available – with only the US seeing a bigger increase.
Press reports suggest that the Chancellor is planning an overhaul of the UK’s system of alcohol duties. The current system, which raises about £12 billion a year, is certainly ripe for reform.
The UK’s economic recovery from the COVID-19 pandemic has so far proven rapid but incomplete, and remains contorted by sectoral and regional imbalances.
