Making tax policy post-Brexit: an international perspective

I returned to my old Westminster haunts this week to take part in a seminar run by the All-Party Parliamentary Group on Responsible Tax. This was the group’s second session on tax and Brexit, with the theme “Making tax policy post-Brexit”. Dame Margaret Hodge, who chairs the APPG, led the proceedings and fellow-panellists were Nicky … More Making tax policy post-Brexit: an international perspective

A predictable Budget for business taxes

When a Chancellor’s room for manoeuvre in the Budget is highly constrained, what emerges tends towards the predictable. Wednesday’s Autumn 2017 Budget is a case in point. Economic outlook The downgrade to economic growth forecasts by the Office of Budget Responsibility (OBR) was severe, and could have profound long-term consequences. But it was hardly surprising … More A predictable Budget for business taxes

What might we expect for business taxes in the Autumn Budget?

As Philip Hammond prepares for his Budget on Wednesday, he faces a daunting set of constraints, both economic and political. The economic side On the economic side, the news since the March Budget has not been universally bad. Tax receipts are higher than forecast, while spending is lower, leading to a reduction in debt. However, it is … More What might we expect for business taxes in the Autumn Budget?

Merkel’s 27 April speech to the Bundestag: full translation

Following reports of last week’s Juncker/May dinner (see Monday’s blog), there has been renewed interest in Angela Merkel’s speech to the German Parliament (Bundestag) the day after. So I’ve translated it in full below. The bits I’ve highlighted in bold are particularly striking in relation to Brexit. But the speech – quite short by Merkel’s … More Merkel’s 27 April speech to the Bundestag: full translation

US tax reform: badly needed, but is the destination right?

Back in 1988, the economist Larry Summers explained why the US had no VAT: ”Liberals think it’s regressive and conservatives think it’s a money machine. If they reverse their positions, the VAT may happen.” Nearly 30 years later, the US still doesn’t have a VAT. But recent tax reform proposals by the Republican party would bring … More US tax reform: badly needed, but is the destination right?