We show that observed behaviour can be rationalised by the fact that the shadow price of home-cooked food, which accounts for the fact that cooking takes time, has risen relative to the price of ready-to-eat food.
The government is consulting on whether to introduce an online sales tax to pay for a reduction in business rates. Would that be a good idea? How might it work in practice, and what would be the effects on businesses, consumers and the high street?
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.
