Just the Facts: Previewing the Comprehensive Spending Review
How severe will the cuts due to be outlined in the Comprehensive Spending Review (CSR) actually be? This short, opinion-free briefing that aims to answer this question, by examining the spending totals outlined in June's Emergency Budget.
Privatisation Revisited
This report calls on the government to undertake a radical new programme of privatization. There are still many attractive commercial operations in the public sector that should be privatized – for instance, Channel 4, BBC Worldwide, Scottish Water, Network Rail and many other firms. The report also calls for the government’s shares in RBS and Lloyd’s TSB to be sold off gradually over the term of the current government. Together, these privatizations would raise up to £90billion over a period of several years.
The report argues that many benefits would accrue if its proposals were implemented in full – particularly in terms of operational efficiencies. The major privatization wave under the Thatcher government opened up much of Britain’s industry to competition and helped the British economic miracle of the 1980s. In times like this, a return to this approach is required to rejuvenate parts of the British economy.
Britain’s national debt is approaching one trillion pounds and interest repayments are nearly £120 million every day. With this report, the government now has an instruction manual in how to begin paying down this debt and simultaneously jumpstarting the flagging British economy.
Taxpayer Value: Rolling back the state
'Taxpayer Value: Rolling back the state' urges the government to reduce the number of people employed by Whitehall departments and their QUANGOs by almost 27 percent. This would equate to almost 270,000 public sector job losses and deliver estimated savings of £55bn a year. However, the emphasis of this report is not on cutting for cutting's sake. Rather, the goal is to make the concept of 'taxpayer value' central to government activity and, in so doing, deliver better services at a lower cost. Among other recommendations, the report suggests that job centres be privatized and the tax and benefit systems integrated, that the military take over procurement from the MoD and purchase equipment 'off the shelf', and the Departments for International Development and Communities and Local Government be abolished.
Estimated revenue losses from CGT increases
International evidence suggests clearly that increases in capital gains taxes above a very modest level result in decreases in revenue. Similarly, if capital gains tax rates are set above a relatively modest level, then their reduction will involve an increase in revenues. This paper uses new evidence from Ireland, Sweden and Switzerland combined with existing analysis from America, Australia and Britain to try and identify more precisely the revenue consequences of CGT increases in the UK. It looks at both revenue losses from capital gains tax and from other taxes.
Archive
- November 2024
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- May 2023
- April 2023
- March 2023
- February 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- June 2021
- May 2021
- April 2021
- January 2021
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- February 2020
- January 2020
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- May 2016
- April 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- July 2015
- June 2015
- April 2015
- February 2015
- January 2015
- November 2014
- October 2014
- August 2014
- July 2014
- May 2014
- April 2014
- March 2014
- December 2013
- November 2013
- October 2013
- September 2013
- April 2013
- March 2013
- February 2013
- January 2013
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- May 2011
- April 2011
- March 2011
- November 2010
- October 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- April 2009
- March 2009
- February 2009
- November 2008
- April 2008
- February 2008
- November 2007
- November 2006
- September 2006
- August 2006
- January 2006
- November 2005
- July 2005
- November 2004
- December 2003
- November 2003
- December 2002
- November 2002
- November 2001
- October 2001
- December 2000
- November 2000
- November 1999
- December 1998
- November 1998
- January 1998
- November 1997
- November 1996
- December 1995
- November 1995
- November 1994
- August 1994
- January 1994
- December 1993
- November 1993
- August 1993
- November 1992
- June 1992
- December 1991
- November 1991
- August 1991
- December 1990
- November 1990
- September 1990
- August 1990
- January 1990
- December 1989
- November 1989
- October 1989
- August 1989
- May 1989
- March 1989
- January 1989
- December 1988
- November 1988
- August 1988
- July 1988
- March 1988
- January 1988
- October 1987
- August 1987
- April 1987
- January 1987
- December 1986
- November 1986
- October 1986
- September 1986
- January 1986
- December 1985
- November 1985
- October 1985
- June 1985
- December 1984
- November 1984
- January 1984
- November 1983
- January 1983
- January 1982
- December 1981
- November 1980
- November 1979