Raising the personal allowance and reducing corporation tax were two signature plans of the last parliament, and the new Chancellor has inherited plans to go even further.
But with fewer people paying tax, and businesses paying lower rates of tax, is our tax system fit for purpose to fund public services and reduce the deficit? Does the narrowing of the UK’s tax base leave it vulnerable to future economic shocks? And what, if any, big tax reforms should we see from the Chancellor in his upcoming Autumn Statement?
At an event at its headquarters in Westminster, the Resolution Foundation presented new analysis on changes in the UK’s tax base – and how resilient it is to future economic shocks. A panel of experts then debated what reforms the Chancellor might make in his upcoming Autumn Statement before taking part in a Q&A.