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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81 - 96 of 248 Research articles

Abolishing the innovation poll tax

Adam Memon - Economy

Adam Memon calls for supply-side reforms to the patent process which will reduce the barriers to innovation.

Falling Dependency But Still Too High

Tim Knox - Economy

The latest ONS data release on the effects of taxes and benefits on household income show that 52% of households are receiving more in benefits than they pay in taxes.

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- Economy

Adam Memon calls for supply-side reforms to the patent process which will reduce the barriers to innovation.

The Road from Serfdom

Lord Saatchi - Economy

Lord Saatchi, originator of proposals for a £10,000 income tax threshold, puts forward a new Policy, designed to have similar impact to ‘Right to Buy’.

Why the 11th of June Will Be a Difficult Day for the Coalition

Tim Knox - Economy

Whilst this week’s labour market figures contained good news for employment, there are clear signs that the data to be released on the 11th June could be disappointing.

SuperEntrepreneurs – and how your country can get them

Timo - Economy

The backgrounds of 1,000 self-made men and women who have earned at least $1 billion dollars are examined by Tino and Nima Sanandaji.

Retirement Savings Incentives

Michael Johnson - Economy

Retirement saving incentives are an ineffective, and inequitable, use of Treasury funds. They have failed to catalyse a broad-based savings culture.

Productivity is Still the Key Weakness

Tim Knox - Economy

Permanently weaker productivity is not inevitable – the Government can still take more action to boost productivity through reforms alongside refreshed competition and infrastructure policies.

A Norma Desmond Budget

Tim Knox - Economy

Norma Desmond’s retort in Sunset Boulevard (“You used to be in silent pictures. You used to be big”. Norma Desmond: “I am big. It’s the pictures that got small”) might also apply to recent budgets..

Not Paved With Gold

Brian Sturgess - Economy

The widely held assumption that high government expenditure can have a positive impact on GDP growth is challenged by Brian Sturgess.

The Tidal Wave of Regulation

Tim Knox - Economy

Unless tougher action is taken, the overall cost of regulation to British businesses at the end of this Parliament will be higher than at the beginning.

Ease the Squeeze: tax cutting priorities in an age of austerity

Dominic Raab MP - Economy

Dominic Raab MP calls for a strategic pledge to cut the overall tax burden in the 2015-20 Parliament.

Autumn Statement 2012 Briefing Note: Paint the Big Picture, George

Tim Knox - Economy

In an Autumn Statement briefing note, Ryan Bourne and Tim Knox provide some advice for the Chancellor with 16 Recommendations.

Costly and Ineffective: Why Pension Tax Reliefs Should be Reformed

Michael Johnson - Economy

Costly and Ineffective: Why Pension Tax Reliefs Should be Reformed

The Local Government Pension Scheme: opportunity knocks

Michael Johnson - Economy

Leading pensions analyst Michael Johnson on the failure of governance in the local government pension scheme.

Aggregation is the key

Michael Johnson - Economy

Automatic consolidation of pension pots and other retirement savings would help deliver economies of scale to the individual, leading to higher incomes in retirement, greater customer control over their own assets & lower welfare costs.

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81 - 96 of 248 Research articles