Better news on inflation might lower bond yields regardless of the changes in Downing Street. But it seems more likely that honeymoon disappointment and Budget speculation will sap confidence further. This Friday, Andy Burnham is set to be confirmed as the new leader of the Labour Party and hence as the next Prime Minister of … Continue reading Another lurch to the left under Burnham could tip the economy over
Tag: wealth tax
Why Gary Stevenson is wrong on (almost) everything
Mercifully, we may now be at "peak Gary", but there seems to be an endless appetite for the sort of slop he has been feeding the unfortunate for many years... If you have not yet heard of Gary Stevenson, consider yourself lucky. The self-styled “world’s top trader” turned leading economist has been a fixture on … Continue reading Why Gary Stevenson is wrong on (almost) everything
Why it would be wrong to equalise capital gains tax and income tax
In principle, taxing income from labour and capital equally might appear to be fairer, simpler, and more efficient. In practice, it would almost certainly be none of these things. Wes Streeting has proposed a “wealth tax that works” as part of his Labour leadership pitch, by equalising capital gains tax (CGT) with income tax. Or in … Continue reading Why it would be wrong to equalise capital gains tax and income tax
How might the Chancellor fill a £30 billion hole?
My previous blog post showed that, based on some reasonable assumptions, the Chancellor could have to find another £30 billion from tax increases. It is hard to see how this can be done without touching the big revenue raisers – namely income tax, National Insurance (again), and VAT. Indeed, earlier this month the Chancellor reportedly asked the … Continue reading How might the Chancellor fill a £30 billion hole?
Plain-speaking Economics 