Shrink the government to grow the British economy November 2, 2016 November is the month when many Christians remember the dead. This year, in the same month, the Institute of Economic Affairs is focusing on that other constant of life – taxes. Sadly in the UK, taxes seem not just inevitable, but ever-growing. In 2015, the government spent 46 per cent of national income. Government estimates [...]
Embrace road pricing to build the infrastructure we actually need without government borrowing October 27, 2016 It is odds on that Philip Hammond will announce in the Autumn Statement that government spending constraints will be relaxed to facilitate investment in infrastructure. We will be told that the government should borrow and invest more and that this will promote growth in the long run. This argument might have merit if it were not for [...]
Britain needs Multinational Monday – not yet more arbitrary tax hikes December 8, 2014 BRITAIN has just celebrated “Small Business Saturday”. Perhaps yesterday should have been declared “Multinational Monday”. Multinationals are often the engine of poverty reduction in under-developed countries; and they promote technology transfer and transform lives all around the world. Indeed, it is difficult to imagine what life would be like without them. Of course, multinationals deserve [...]
As the European Parliament votes to break up Google, is it politicising competition law? November 27, 2014 Philip Booth, professor of insurance and risk management at Cass, and editorial and programme director at the Institute of Economic Affairs, says Yes. Taking competition action against innovative industries is bad policy – unless the EU wants a stagnant economy. Google is operating in a sector where change happens very quickly, and dominant firms that [...]
Ditch the structural deficit: Why Osborne has struggled to hit this moving target November 24, 2014 FALL-OUT from the Autumn Statement next week is likely to focus heavily on the slowdown in deficit reduction. Borrowing has been £3.7bn higher this year so far compared with last, and it looks unlikely that George Osborne will hit his fiscal target for 2014-15. But the key number the media will focus on is the [...]
It’s Laffable: Why hiking capital gains tax would only depress revenues October 8, 2014 THE LIBERAL Democrats have proposed raising capital gains tax (CGT) rates in order to reduce taxes on the least well off. Go to the back of the class! CGT is a bad tax implemented badly. There is no more revenue to be raised. The case against CGT on investments is overwhelming. Capital gains tend to [...]
Cameron made a monumental blunder by denying Scotland the choice of devo-super-max on the ballot September 17, 2014 In denying the Scots the option of devo-max on the ballot paper today, David Cameron made arguably the most monumental mistake of any recent premiership. And whatever the result of the referendum, that mistake cannot be undone. There is a clear economic justification for a union between two countries, in that it allows for the [...]
Forget fancy schemes – government borrowing is holding back UK exporters July 24, 2014 There is no shortage of concern about the UK’s large balance of payments deficit. Many in the government are trying to solve it by cajoling British companies to export more with lots of new fancy schemes and initiatives. Speaking before the opening of the Commonwealth Games this week, for example, David Cameron said this should [...]