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Tax

The government’s migration policy shows Theresa May’s once predicted Nasty Party is now in power

The continual creep of the UK towards dog-whistle populism and all that follows from it continues with the government’s announcement of new controls on migration. As the Guardian notes: Britain is to close its borders to unskilled workers and those who can’t speak English as part of a fundamental overhaul of immigration laws that will […]

Tax

A funding update

At the beginning of this year I mooted the possibility of an appeal for funding on this blog because at that time it was not apparent how the income that I had enjoyed from City, University of London to October 2019 might be replaced. I have this morning published an update on my funding for […]

Tax

Not all Keynesian spending is equal

The Guardian has an editorial this morning on Keynes and Keynesianism. In it they argue that: In 1976 it was a British Labour prime minister, James Callaghan, who pronounced Keynesianism dead. As they then note: Monetarism, the economic theory that took over, has failed. They then argue, reflecting a theme that I raised last week, […]

Tax

WE need an IFRS for ESG

The FT has an interview today with Michael  Jantzi, who is the CEO of Sustainalytics, who advise on ESG date issued by large companies. Much if the interview is rather routine corporate puff for the company Jantzi heads, but this was interesting: Some have criticised a lack of consistency in ESG scores between various providers. […]

Tax

We’re living at a point of instability

It’s always curious when two writers you like pick a common theme at vey similar moments. Larry Elliott and Fintan O’Toole have done so this week. Both have chosen to comment on the consequential failures of globalisation. Note that I do not say that they suggest that globalisation has failed. As Larry Elliott has it: […]

Tax

Tax expenditures cost the UK £155 billion a year – and in many cases no one knows what benefit we get

I think it worth sharing the following press release from the National Audit Office, issued this morning: Today the National Audit Office (NAO) publishes a report on tax expenditures. Tax expenditures are tax reliefs with social or economic objectives. Government uses tax expenditures to encourage a range of activities, such as saving for pensions, to […]

Tax

On sustainable cost accounting

There has been the most remarkable fightback on sustainable cost accounting (SCA) on this blog this week. Four things characterise that fight back. First, almost every single commentator engaged in the activity has never apparently been here before. Second, despite that almost every one of them seems remarkably familiar with right-wing tropes about me (I […]

Tax

Cayman gets attention from the EU. Who is next?

As the Guardian has reported: The Cayman Islands, a British overseas territory, is to be put on an EU blacklist of tax havens, less than two weeks after the UK’s withdrawal from the bloc. In a clear indication of the country’s loss of influence on the EU’s decision-making, the bloc’s 27 finance ministers are expected to […]

Tax

The FT is right that we need a decent tax strategy but assuming that we need a balanced budget is the wrong place to start

An FT editorial this morning has said that: Raising tax is always politically difficult. But Britain can no longer afford a delay. The proximate cause is a shortfall in the public finances. Likely downgrades to productivity forecasts, spending commitments already announced and a change in the accounting treatment of student loans all mean the government […]