Few people outside the Treasury think that now is a good time even to be talking about raising taxes, let alone actually doing so. Nonetheless, it seems almost certain that the Chancellor will start down this road in Wednesday’s Budget. This may not be as mad as it sounds. The arguments against immediate tax hikes … Continue reading Is there any case for tax increases now?
Tag: Public spending
Given how trendy it is to blame ‘capitalism’ for all the world’s other ills, from wars to climate change, it’s no surprise that some have been quick to pin the current crisis on the failures of free markets too. Many have also used the need for unprecedented government intervention as evidence that the state should … Continue reading Coronavirus crisis doesn’t mean Corbyn was right
In a thought-provoking blog for the New Economics Foundation (NEF), Alfie Stirling has made the striking claim that the cumulative effect of austerity since 2010 has been to reduce the level of UK GDP in 2018/19 by 4.7%, or almost £100 billion. This is equivalent to “around £1,500 for every woman, man and child this year alone”. … Continue reading Is the UK economy £100bn smaller because of austerity?