Britain is in the bottom half of a league of developed nations for tax competitiveness. Research by the Tax Foundation has found that the UK ranks 22nd for offering competitive rates in the Organisation for Economic Co-operation and Development, a club of 36 advanced nations. Read more here.
Top think-tank warns Rishi Sunak to avoid ‘act of self-sabotage’ in bid to repair battered public finances
Increasing taxes to pay for the Covid crisis would be ‘an act of self-sabotage’ which would derail Britain’s economic recovery, Rishi Sunak was warned last night. The Chancellor has repeatedly signalled that tax rises will be needed to repair the battered public finances. Read more here.
MPs try to ban ‘harmful’ words from the Internet in a new free speech row as critics argue new laws will ‘seriously threaten freedom and democracy’
New laws to ban ‘harmful’ words from the internet are unworkable and will ‘stifle’ freedom of speech, an influential report has found. Ministers’ plans to force blanket regulation on online companies and websites to protect people will not work, according to a new report by think-tank the Centre for Policy Studies. Read more here.
The social care system should be reformed so people pay for what they want while the state covers what they need, according to a new report. The Centre for Policy Studies (CPS) think tank said a system where the state guarantees a reasonable level of care and accommodation, with individuals encouraged to top up their provision beyond that… View Article
Even before the pandemic, the health of our high streets was in decline. Town centres were pockmarked by empty shops. Restaurant chains were finding it hard to stay afloat. Online shopping was attracting an ever greater share of consumer spending. But coronavirus has turned a trend into a fact. Years of behavioural change have been compressed… View Article
In a new report, James Sproule calls on Mr Johnson to allow a new generation of start-ups to operate within UK company law from abroad – beginning with Commonwealth countries such as Nigeria, Uganda and Zambia. The report, published by the Centre for Policy Studies think tank, says the move would help entrepreneurs in developing countries… View Article
Nobody yet knows how different the Britain that emerges from the coronavirus crisis will end up being. Yet it is clear that most people who can work from home do not want to return to five days working in cramped city centre offices and long, stressful commutes. Jethro Elsden writes for the Sunday Telegraph.
Cut National Insurance and VAT to get the economy back on its feet, says former chancellor Sajid Javid
Former chancellor Sajid Javid heaped pressure on successor Rishi Sunak to cut taxes to help Britain recover from coronavirus today as he called for reductions in National Insurance and VAT. Mr Javid, who quit in February after a bruising clash with Boris Johnson and his aide Dominic Cummings, called for a ‘significant temporary’ reduction in NI to make it cheaper for employers… View Article
As the UK begins to take its first cautious steps out of the lockdown that has precipitated the worst economic crisis in modern history, thoughts have inevitably begun to turn to the question of what comes next. For some, the devastation wreaked by the coronavirus pandemic gives the UK a chance to fundamentally reset its… View Article
Housebuilders should be given up to £3bn in short-term grants to prevent a collapse in the supply of new homes, according to a new report. Centre for Policies Studies, a think tank, has called for the urgent stimulus to protect the sector from a lasting impact due to the coronavirus outbreak. It has proposed a… View Article
To say this would be a novel approach for the Treasury would be an understatement. But this would hardly be the first break with orthodox Treasury thinking that we’ve seen in recent months – the millions of people currently being paid by the state via the furlough scheme provides an all too obvious example of… View Article
Transport is now the single biggest contributing sector to our country’s greenhouse gas emissions, while at the same time being a primary culprit for polluting our air. Worryingly, it’s also a sector which includes parts of the economy that are some of hardest to decarbonise, which might explain why it has barely reduced its emissions… View Article
The tragedy of 2020 will leave deep scars on our country. Thousands of families across the UK have lost loved ones. Hundreds of thousands more have lost their livelihoods. And we have all lost our most basic freedoms. There are, thankfully, tentative signs that we may have reached the virus’s peak. So thoughts must turn… View Article
The centre-right CPS think tank today produced a more up-to-date assessment, saying the total could be £301bn. It said the cost of the support schemes themselves could add £127bn on to borrowing, with £119bn lost due to lower tax receipts and higher welfare payments. However, the CPS cautioned that any predictions in the current climate… View Article
The Centre for Policy Studies predicts the Treasury will spend £127 billion in direct bailout costs, including the employee furlough scheme which launched on Monday. It forecast a further £119 billion will be spent in indirect costs such as lower tax revenues, using the Office for Budget Responsibility’s (OBR) scenario of a three-month lockdown followed… View Article
Over the last two decades, the number of self-employed people has increased by 54 per cent and now stands at five million. Nearly one in three of the net jobs created since 2000 have been people becoming their own boss. Now, for every five employees there is one self-employed person. Senior Researcher, James Heywood, writes… View Article