Tax and Fiscal Policy

IEA release briefing ahead of the Budget 2017

The Budget should pursue policies which reduce the budget deficit, establish a more coherent tax system and improve long-term fiscal responsibility. A new briefing from the Institute of Economic Affairs argues that less action is better than too much, calling on the Chancellor to avoid the temptation to tweak policies or make knee-jerk responses to economic ... Continue reading

Madeline Grant writes for City AM

Madeline Grant, Digital Officer at the Institute of Economic Affairs, has written for City AM on the situation in Venezuela. In her article Madeline argues that Venezuela's leaders brought this economic demise on their own country. Since 1998, the government has nationalised over a thousand companies, destroying the productive structure of the economy to the ... Continue reading
Continued from here.   The Hat Tax Astonishingly, hats were subject to a special sales tax between 1784 and 1811, first introduced by Pitt the Younger. Pitt, who also served as Chancellor of the Exchequer for much of his tenure as Prime Minister, was responsible for implementing 17 new taxes, more than any other Chancellor, ... Continue reading
“Nothing is certain in life except death and taxes”, as Benjamin Franklin’s old maxim goes. That’s especially true here in Britain, where everything from tampons to televisions is taxed, and even upon death there is one last impost, Inheritance Tax, to pay. Inheritance Tax (IHT) was one of 20 taxes that the Institute of Economic ... Continue reading

Chris Snowdon is quoted in the Daily Telegraph

Scottish "booze cruises" have been predicted as experts say new minimum pricing are likely to lead to people taking trips into England for cheaper alcohol. Experts said the trips were a likely consequence of a Supreme Court ruling that new price rules passed by the Scottish Parliament five years ago could become law.  Off-licences just south ... Continue reading
Lifestyle Economics

Chris Snowdon is quoted in City AM

The Scottish government has said it will set minimum alcohol prices "as quickly as possible" after the UK's Supreme Court ruled in its favour. The measure, passed by the Scottish parliament in 2012, was appealed by the Scotch Whisky Association and others. But this morning's ruling decided that the policy, in which a price will ... Continue reading

Chris Snowdon is quoted in the Daily Mail

The price of beer, wine and spirits is set to soar in Scotland as it becomes the first country in the world to impose a minimum price for alcohol. The Supreme Court in Scotland today backed the controversial measure in what ministers in Edinburgh hailed as an 'historic and far-reaching judgment'. The Scotch Whisky Association (SWA) has mounted a ... Continue reading

The IEA is quoted in the Times

A minimum price for alcohol should be set in England, charities and MPs have demanded after Scotland won a legal battle over implementing the policy. Health experts said that a minimum price of 50p per unit could save 500 lives a year and prevent 35,000 crimes in England. Ministers in Scotland could set a floor ... Continue reading

Chris Snowdon writes for Spectator Health

Chris Snowdon, Head of Lifestyle Economics at the Institute of Economic Affairs has written for Spectator Health following the ruling on minimum pricing of alcohol. In his article Chris argues that for the people of Scotland minimum pricing offers nothing but a higher cost of living. It is a myth that the policy will only ... Continue reading
Government and Institutions
How far has EU membership benefited the UK economy since 1973? A pro-EU colleague emailed me last week: “we’re the fifth largest economy in the world, but in the 1970s, before we joined the EU, we were the sick man of Europe – strike-bound, socialist, ungovernable, poor and getting poorer.” The not-so-subtle implication of the ... Continue reading