No, the poorest don’t pay higher taxes than the richest

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Incomes and Inequality

We all know that parts of the tax system are very progressive – and this should be very apparent in the Autumn Statement when the Chancellor unveils perhaps £10 billion of tax rises that will target the wealthy. But wait, some say, when you factor in taxes such as VAT it’s actually poorer households that … Continued

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What today’s household income figures tell us about 2016-17

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Incomes and Inequality

The best results can take time. We already have data for what happened to employment, prices and earnings in early 2018, but for a detailed look at household incomes the latest official data – out today – is for 2016-17. What does this release tell us about living standards, poverty and inequality back when The … Continued

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It’s time to properly abolish the ‘poll tax’

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Intergenerational Commission, Tax and Welfare

What is Britain’s most badly designed tax? A leading contender has to be council tax. It’s a tax based on 27 year old house valuations, but this isn’t even the biggest problem. Council tax would bear little relation to property values even if it were revalued. Typical council tax bills for the most expensive homes … Continued

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Should the Office for Budget Responsibility also forecast inequality?

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Incomes and Inequality

The strengths and weaknesses of economic forecasting are under scrutiny, perhaps like never before. How might GDP perform under different Brexit policies compared to a world with no Brexit? Is unemployment now likely to rise or fall? What will public borrowing in 2022 be? Whatever your politics, such modelling and forecasting is indispensable – so … Continued

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