Universal credit was introduced in 2012, with the intention of simplifying the overcomplicated welfare system. Conversely, Universal Credit has turned out to be far more complicated than was initially intended, insofar as a radical overhaul of the welfare system is necessary. The replacement of both the bureaucratic, means-tested tax credits and Universal Credit, with aContinue reading “A better alternative to welfare”
Category Archives: Fiscal Policy
The Economic legacy of the Coalition Government
Following the 2010 General Election, no party held an overall majority – with the Conservatives winning the most of any party with 306 seats. A coalition government comprising of the Conservatives and the Liberal Democrats followed, marking the first coalition government since the Second World War. Both parties entered government in the wake of theContinue reading “The Economic legacy of the Coalition Government”
Global Minimum Corporate Tax. A good idea?
At the time of writing, 130 countries have backed a global minimum corporate tax rate of 15% – designed to discourage multinational corporations from purposefully redistributing profits and thus manipulating their tax returns in the process. The aim is to increase tax revenues, by taxing corporations regardless of where their sales are made. However, theContinue reading “Global Minimum Corporate Tax. A good idea?”
Foreign aid
The economics of foreign aid spending has been contentious for a long time. Last November, the government declared that overseas aid spending would be 0.5% of national revenue in 2021, a 29% reduction from the stipulated 0.7%, enshrined into law in 2015. Although UK assistance spending as a percentage of national revenue will remain highContinue reading “Foreign aid”
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