Amidst the debates about ‘austerity’ a number of vital debates in public finance have been sidelined. Because the reductions in government spending – small though they have been so far- have been designed to reduce the government’s borrowing requirement, there has been little discussion of whether the size of the state should be reduced in order to facilitate long-run reductions in the burden of taxation. This book traces the history of the growth of the size of the state over the last 100 years whilst also making international comparisons. There is a particular focus on recent and projected future developments which shows that, though the total level of government spending has not decreased significantly in recent years, there has been a big redirection of spending from some areas to others. The authors then examine the evidence on the relationship between taxation and economic growth. As well as reviewing recent literature, they also undertake new modelling that higher taxes are detrimental for growth. In the final part of the book, the whole UK tax system is reconsidered in a proper economic framework. The UK has one of the world’s most complex tax systems and its incoherence has increased over the last five years. Sweeping reforms are proposed to the system which wold involve abolishing around 20 taxes and the development of a simple, predictable tax system based on principles that should gain wide acceptance.
Taxation, Government Spending and Economic Growth
This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth.
The size of gov¿t. has increased significantly since the financial crisis of 2008 as a result of the government¿s unplanned intervention in financial markets and subsequent stimulus legislation.
Di ci in President Bill Clinton's main economic goal was debt reduction. The first major accomplishment of the president's second term was an agreement with the Republican Congress on how to reach a balanced budget.
Criticizes government spending policy, budgeting methods, and expenditures, calling for a constitutional amendment to curb inflation and limit federal spending
... Roger Bate Professor Donald | Boudreaux Professor John Burton Professor Forrest Capie Professor Steven N S Cheung ... A Gregg Walter E Grinder Professor Steve H Hanke Professor Keith Hartley Professor David Henderson Professor Peter ...
Properly used tax expenditures can play an important role in implementing countriesAcirc;' economic and social policies. But they often go unnoticed because they take many forms of revenue forgone, from...
Office of National Statistics, Labour Force Survey, as reported by S.Hicks, Trends in Public Sector Employment, London, 2005. Steuerle, E., “Tax Policy From 1990 to 2001', in J. Frankel and P. Orszag (eds.) American Economic Policy in ...
This important volume enhances understanding of the implications of taxation on behavior and social outcomes by having leading scholars evaluate key topics in tax policy.
No greatdecline emerges with theindepth study bythe research teamof Sean Corcoran, William Evans, andRobert Schwab.Tofind out whether the academic qualifications ofthose enteringteaching careers were really falling overtime, ...