UK urged to cut taxes at first opportunity as it tumbles down international rankings
Research from the US-based Tax Foundation and supported by the Centre for Policy Studies has calculated that changes to the UK tax system will cause the country to tumble down international tax competitiveness rankings. The Daily Telegraph reports on the research which found that in 2023 the UK would fall from 26th to 33rd, its… View Article
Britain’s employment crisis as more than 1m job vacancies available
CPS Senior Researcher Karl Williams was quoted by the Express online, responding to concerns that older workers have “vanished” from the workforce. New jobs figures from the ONS have revealed that in the three months to July 2022 there were 386,096 more “economically inactive” adults aged 50 to 64 than pre-pandemic. Responding to the suggestion… View Article
‘Inheritance tax should be abolished’, says Treasury minister
A Centre for Policy Studies panel at Conservative Party Conference made headlines as Andrew Griffith told the event that inheritance tax “would be his top choice of taxes to scrap”. Griffith, a Treasury minister, was speaking at a CPS event in Birmingham and said the tax, which is set at 40pc for estates over £325,000,… View Article
I’ll reinvigorate Gove’s schools ‘revolution’, vows Malthouse
put some more momentum behind us”.Comments made by Secretary of State for Education Kit Malthouse to a CPS event at Conservative Party conference made headlines in education publication Schools Week. Malthouse told attendees at the CPS drinks reception that although progress on Michael Gove’s education reforms had “stalled” as a result of the coronavirus pandemic,… View Article
Whatsapp boss warns govt against changes to encryption in online safety
City A.M. reports on concerns that the Online Safety Bill would create a “troubling precedent” for other governments by seeking to regulate ‘legal but harmful’ content. Following the report of the CPS’ latest publication which calls on the government to rethink the Online Safety Bill, Feeney said “[r]ather than taking a stand for freedom of… View Article
CPS welcomes Government’s plan for growth
The Centre for Policy Studies (CPS) has welcomed the Government’s new growth plan, announced to Parliament this morning. While acknowledging the daunting scale of the economic headwinds, the CPS applauds the new Chancellor’s conviction that sustainably boosting economic growth should be the primary focus of government policy, and that a mixture of tax reform and… View Article
Boldness will boost growth, says think tank
The anticipated announcement that the government will scrap the planned rise in corporation tax would, in the long term, mean “Britain’s national income would rise by 1.2 per cent, investment by 2 per cent and wages by 1.1 per cent”, according to CPS figures quoted in The Times. The figures come from recent CPS work… View Article
How cutting hated stamp duty could solve the nation’s housing crisis
Ahead of rumours the Chancellor is planning to cut stamp duty, the CPS Head of Tax Tom Clougherty welcomed such a move. In comments reported by the Daily Telegraph, Clougherty said a cut would be “a watershed moment for the housing market. It will liberate supply and boost productivity.” Research by the CPS found that… View Article
The bolder the Chancellor, the bigger the payoff
Ahead of the new Chancellor’s statement tomorrow, CPS Head of Tax Tom Clougherty sets out three key measures Kwasi Kwarteng could take to help boost growth. Writing for CapX, he argues that tackling capital allowances would help fix the current “cliff edge” many businesses face, as well as suggesting the Chancellor should consider reforming stamp… View Article
Liz Truss tax cuts must be bolder to revive UK economy, Thatcherite thinks tank claims
Ahead of this week’s fiscal statement, the Centre for Policy Studies urged the government to go further in pursuit of growth. City A.M. reports on CPS research which showed that scrapping the six point increase in corporate tax would generate a 1.2 per cent bump in GDP but further measures, such as scrapping taxes on… View Article
Cancelling corporation tax rise will boost GDP by 1.2% – but reforming capital allowances could do even more
Read the full release here On Friday, Kwasi Kwarteng is widely expected to cancel Rishi Sunak’s proposed rise in corporation tax from 19% to 25% New modelling by the US-based Tax Foundation and the Centre for Policy Studies shows that in the long term this will increase GDP by 1.2%, investment by 2% and wages… View Article
In memory of Tessa Keswick
The Centre for Policy Studies expresses its deepest sorrow at the loss of Tessa Keswick. Lady Keswick, who died on Tuesday at the age of 79, became Director of the CPS in 1995, having been a special adviser to Kenneth Clarke during his time in government. In 2004 she became deputy chairman of the think… View Article
Free market think tanks criticise Truss’s energy price freeze
Following confirmation of the Prime Minister’s plan to freeze energy bills, City A.M. rounded up responses from free market think tanks included the Centre for Policy Studies. The Centre for Policy Studies said the cost of the freeze will be “eye-watering”, but it praised the government for “resisting the pressure for a windfall tax that… View Article
CPS urges Government to push for energy abundance
The costs of the freeze on energy bills will be eye-watering, as CPS analysis this week made clear. But it is clear that, as with the pandemic, ministers felt they had little alternative – and they are to be commended on resisting the pressure for a windfall tax that would have damaged the very investment we need… View Article
Why Liz Truss will not be unchaining Britannia
Robert Shrimsley, writing in the Financial Times, sets out the challenges facing Liz Truss and highlights the recent CPS paper ‘The New Majority’. “Political realities are about to intrude” on Truss’ radical intentions, he writes, as she faces the “priorities and dismay of newly acquired aspirational working-class supporters” highlighted in the CPS report. The report… View Article
Brits must never face rocketing energy bills again, Liz Truss to pledge as she unveils energy revolution
Liz Truss’s government have unveiled plans to tackle spiraling energy costs, announcing a support package which will freeze bills for the average household at £2,500 a year. Coverage in the Daily Mail included figures from a recent report from the Centre for Policy Studies which found that funding the freeze would cost £29billion a year… View Article
