Posted by: Stephen R. Bond on October 20, 2020
UK public health policy is driven by a perceived need to balance health and economic concerns. This view is difficult to reconcile with the available evidence. The resulting strategy is myopic, and has not performed well during the pandemic. The UK public policy response to the Covid-19 pandemic has not been conspicuously successful. Among OECD […]
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Posted by: Alice Pirlot on October 16, 2020
A year ago, Ursula von der Leyen, then the newly elected President of the European Commission, launched a “European Green Deal”. A year later, on 16 September 2020, von der Leyen confirmed her plan to make Europe the “first climate-neutral continent by 2050” in her State of the Union address. You could be forgiven for […]
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Posted by: Michael Devereux on September 30, 2020
The Job Support Scheme (JSS) announced on Thursday last week has been billed by the government as subsidising the pay of employees who are working fewer than their normal hours. It is supposed to support employment and prevent layoffs. It has received broad support from business. According to Dame Carolyn Fairbairn, the CBI’s Director-General, “it […]
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Posted by: Alan J. Auerbach and Michael Devereux on August 10, 2020
Our international tax system is broken. Indirect remedies will not work, nor will demonizing companies or countries. Major tax reform is needed. Recently the EU General Court handed the European Commission a major defeat, quashing the EC’s 2016 order that Ireland collect €13.1 billion in back taxes (plus accrued interest) from Apple. The now-overturned order […]
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Posted by: İrem Güçeri on July 13, 2020
On Wednesday, the Chancellor announced a £159 billion package to tackle the challenges arising from the Covid-19 crisis. In this blog, I will discuss three of the Chancellor’s announcements: the Coronavirus Job Retention Scheme (CJRS) phase-out plan, the series of policies under ‘Supporting Jobs’,[1] and the VAT reduction for the hospitality sector. The Office for […]
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Posted by: Eddy Tam on July 7, 2020
As the hospitality sector and high street shops begin to re-open, should the UK government introduce a temporary VAT rate cut to boost consumer spending? Other European countries are considering such a measure, and Germany has already cut its VAT rate from 19% to 16% until the end of the year.[1] The aim of a […]
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Posted by: Michael Devereux on June 29, 2020
As the UK lockdown begins to ease, everyone hopes that the economic recovery will take the form of a sharp rebound. Given that average real wages have only just recovered to their 2008 levels following the financial crisis,[1] a sharp rebound from an even more severe crisis would be extremely welcome. But it cannot be […]
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Posted by: Michael Devereux on March 3, 2020
By François Bares, Michael Devereux and İrem Güçeri In its Global Anti-Base Erosion (GloBE) proposal (also commonly referred to as Pillar II), the OECD has proposed a minimum tax to be paid by multinationals on their foreign profits. Recent CBT Blogs have already summarised the key components of the GloBE proposal and so in this […]
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Posted by: Michael Devereux on February 18, 2020
by Michael Devereux and John Vella The 137 countries comprising the OECD’s Inclusive Framework recently agreed to continue exploring the two sets of proposals grouped under Pillars I and II on a “without prejudice basis”. The quest for reform rolls on, at least for the time being. How it will end is anybody’s guess. The […]
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Posted by: Michael Devereux on February 7, 2020
by Sarah Clifford, Michael P. Devereux and Martin Simmler Last week the 137 members of the OECD’s Inclusive Framework agreed to continue work on its Global Anti-Base Erosion (GloBE) proposal (also often referred to as “Pillar 2”). The core element in the proposal is a minimum tax on foreign profits derived by multinational groups. The […]
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