Tax and cost of living

The Centre for Policy Studies wants Britain to have a tax system that is simple, fair, and pro-growth. And although there have been some encouraging moves on tax policy in recent years – the corporation tax rate has gone down, the personal allowance has gone up, and savers have benefited from more generous ISAs – there is still a lot of work to be done.

We have an income tax system that is riddled with punitive marginal rates and perverse incentives that discourage work and enterprise. We have heavy property taxes that distort markets and contribute to a growing housing crisis. And we tax businesses in a way that does little to promote long-term investment. Above all, we have a tax burden that stands at its highest level in decades, and a tax code that is – at least by some measures – the longest in the world.

If we’re going to rise to the economic challenges of the 21st Century, this has to change. We need tax reform that puts more money in people’s pockets, and promotes robust, sustainable growth. At the Centre for Policy Studies, our aim is to design tax policies that meet these objectives in a practical, popular way – and which are rooted in our core principles of enterprise, opportunity, and ownership.

Our economic agenda is not confined to tax reform, however. Alongside projects looking at housing, welfare, and business policy, the Centre for Policy Studies is working on ideas to lower the cost of living – not through heavy-handed state intervention, but with reforms that make markets more competitive and ensure that consumer interests always come first.

The salience of this issue should not be underestimated. Our “New Generation” polling asked people what government could do to make their own lives better, and across the age spectrum, “do more to keep down the cost of living” was a clear winner. Those aged 18–24 ranked it just behind “more affordable housing”, and those over 65 put it second behind “better health service provision”. But every other age group made lower living costs their number one priority.

Finding realistic ways to make British life more affordable is therefore a central focus of the Centre for Policy Studies’ work.

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17 - 32 of 237 Research articles

Fair Business Banking for All

Kevin Hollinrake MP - Economy

Small and medium businesses are the lifeblood of the British economy but many fail to scale up because they are reluctant to take on the borrowing they need due to a lack of trust in big banks.

Mission Accomplished?

Robert Colvile - Economy

Robert Colvile and Daniel Mahoney warn Philip Hammond not let recent economic figures tempt him into ending austerity, the Chancellor has no room for complacency.

The Cost of Nationalisation

Daniel Mahoney - Economy

Labour’s nationalisation agenda could cost the government £176bn, or £6,500 for every household, concludes research by the Centre for Policy Studies.

A New Era for Retail Bonds

Rishi Sunak MP - Economy

Rishi Sunak MP calls for the Government to back the creation of a new exchange for SME bonds aimed at everyday savers.

Venezuela – No Room for Apologists

Daniel Mahoney - Economy

Many on the left of British politics celebrate Chavez’s reforms and say Venezuela offers “a better way of doing things”. This report shows that there is no excuse for Venezuela’s defenders: the evidence is clear, the reforms were damaging

Helping JAMs without breaking the bank

Daniel Mahoney - Economy

Proposals to help ordinary working families that won’t break the bank for the Chancellor

The Kindness of Strangers

Brian Sturgess - Economy

The Bank of England must stop ‘depending on kindness of strangers’ to bolster the UK economy.

Grade B for Hammond’s last Autumn Statement

Daniel Mahoney - Economy

Daniel Mahoney and Tim Knox provide a detailed examination of the UK final Autumn Statement.

The Free Ports Opportunity

Rishi Sunak MP - Economy

Brexit provides a new trade opportunity for Britain: the creation of Free Ports, writes Rishi Sunak MP.

Complexity, Uncertainty and Cost

Rachel Kelly - Tax

New proposals to address tax avoidance by multi-national corporations could, unintentionally, delay or cancel much-needed UK infrastructure and real estate development.

The City Boys are Here to Stay

Daniel Mahoney - Economy

The UK’s strengths will mean that London continues to be Europe’s leading financial services centre.

Scotland: Could it become Greece without the sun?

Tim Knox - Economy

Scottish independence would entail significant economic risk. Scotland’s budget deficit is currently over three times higher than the UK average as a % of GDP.

The Great Overtake

Daniel Mahoney - Economy

The OECD forecasts that the UK’s GDP is expected to surpass Germany in the mid 2030s.

How to Sell the Family Silver: Ignore the Banks

John Chown - Economy

John Chown explains how the Government can fairly and efficiently sell the remaining bank shares without losing millions of pounds in the process.

Are the doommongers right about the UK economy?

Daniel Mahoney - Economy

Which is the greater economic risk: an impending recession or missing borrowing forecasts?

A new, simple, revenue neutral tax code

David Martin - Tax

The complexity of the tax code is increasing rapidly, doubling in length since 2005. The Government must introduce a new, simplified tax code for business.

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17 - 32 of 237 Research articles