An efficient tax system is a necessity for a thriving economy. Excessive bureaucracy not only limits economic growth through an inefficient allocation of resources, but tax revenues also suffer from more considerable tax avoidance. Taxes also provide a platform for long-run economic development through an incentive structure. Singapore achieves the perfect balance. From one ofContinue reading “Singaporean Taxes”
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Singapore’s success
Touted as the second freest economy in the world behind Hong Kong in 2014, Singapore enjoys an exceptionally high standard of living with one of the world’s strongest economies. A GDP (PPP) per capita of $95,000 in 2017 – over twice that of the UK, GDP growth has averaged 7% since 1970 – far exceedingContinue reading “Singapore’s success”
Elevating Eurozone growth
Fiscal policy refers to the government’s tax and spending policies. Looser fiscal policies refer to more expansionary fiscal measures, with tax cuts being a key fiscal measure that may successfully increase economic growth in the Eurozone. Income tax reductions for lower-income earners should successfully boost consumption within the economy. This is because lower earners haveContinue reading “Elevating Eurozone growth”
Germany’s roaring ’30s
The 1930s were a time of economic peril and misery for most nations globally. In the US, the period came to be the ‘Great Depression’ as living standards plummeted following the sharp decline in the money supply that started the decade. The same was true of the UK, as harsh austerity measures put in placeContinue reading “Germany’s roaring ’30s”
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