Archive for tax
Nick Clegg on the top tax rate
Nick Clegg’s interview in today’s Independent is rather more subtle on tax than the headline “I won’t let Osborne cut 50p tax” suggests. For in fact the story goes on to say: Mr Clegg made clear that the Liberal Democrats would back abolition of the 50p rate in the long run only if it is [...]
Tax: The missing ingredient from the Liberal Democrat conference agenda
There are many weighty issues on the agenda for the Liberal Democrat autumn conference in Birmingham, as well as some potentially significant debates overthe party’s medium term strategy and policy outlook. There is also, however, a curious omission: tax. The word tax is not completely absent from the agenda, but aside from a reference in one motion [...]
Economic statistic of the week: who has the bulk of savings?
Today’s statistic is courtesy of the Office of National Statistics and their video podcasts (a rather unpublicised source of information given its clarity, relevance and yet low viewership figures). This graph looks at pension savings for the age group 54 – 64 held by households and sorts households into deciles based on how much savings they [...]
In other news: court case starts over Kenyan violence, an intern pledge and a closed tax loophole
The trial of six Kenyans at the International Criminal Court (ICC) over the deaths of 1,200 people following the country’s 2007 elections has started this week. Ed Miliband has been notably silent over Nick Clegg’s proposals to open up internships to a wider social mix of people. Perhaps that’s because, as LabourList reports, he signed [...]
Two major tax reforms the government should see through
There’s been some promising chatter in the run up to next week’s Budget about two major changes to our tax system, both of which have often been talked about across the political spectrum and both of which politicians have previously ended up shying away from because of the political hurdles involved. First is integrating income [...]
Robert Peston casts his eye over George Monbiot’s tax plans
Max Teuerman took to this blog last month to criticise George Monbiot’s attack on the government over corporation tax plans. Now the BBC’s Robert Peston has blogged his own long-promised take on the story, saying: The government seems to be trying to do precisely the opposite of what Mr Monbiot accuses it of doing: it [...]
Office of Tax Simplification quotes Star Trek and recommends ending relief for a tax rule that no longer exists
At the time the Conservatives announced their plans for an Office of Tax Simplification it looked to me like a good exception to the general policy of cutting quangoes. Its major report into tax reliefs looks to have justified that belief – because the Office of Tax Simplification has discovered that far more tax reliefs [...]
Economic statistic of the week: how much different sectors pay in tax
Chapter 4 of Britain at the Polls 2010 brings this tax perspective: From the early 1990s the City had sought to justify light-touch regulation and tax concessions by listing the many socio-economic benefits of finance … The most persistent of the City’s claims was that tax revenues from finance were a key source of funding for [...]
Bank levy increase brought forward by government
This morning the government’s plan to phase in a permanent banking levy were altered to bring in the levy in full straight away. It will bring in an extra £800 million as a one-off and, in the words of the Today program is, “Maybe not of a kick, more of a shove perhaps”. Although attempts [...]
