The fiscal response to Covid-19: 'Thinking big' on tax policy after the crisis
Lead Research Organisation:
London School of Economics and Political Science
Department Name: International Inequalities Institute
Abstract
Around the world, the unprecedented public spending required to tackle COVID-19 will inevitably be followed by a debate about how to rebuild public finances. At the same time, politicians in many countries are already facing far-reaching questions from their electorates about the widening cracks in the social fabric that this pandemic has exposed, as prior inequalities become amplified and public services are stretched to their limits. These simultaneous shocks to national politics inevitably encourage people to 'think big' on tax policy.
Even before the current crisis there were widespread calls for reforms to the taxation of wealth in the UK. These proposals have so far focused on reforming existing taxes. However, other countries have begun to raise the idea of introducing a 'wealth tax'-a new tax on ownership of wealth (net of debt). COVID-19 has rapidly pushed this idea higher up political agendas around the world, but existing studies fall a long way short of providing policymakers with a comprehensive blueprint for whether and how to introduce a wealth tax.
Critics point to a number of legitimate issues that would need to be addressed. Would it be fair, and would the public support it? Is this type of tax justified from an economic perspective? How would you stop the wealthiest from hiding their assets? Will they all simply leave? How can you value some assets? What happens to people who own lots of wealth, but have little income with which to pay a wealth tax? And if wealth taxes are such a good idea, why have many countries abandoned them?
These are important questions, without straightforward answers. The UK government last considered a wealth tax in the mid-1970s. This was also the last time that academics and policymakers in the UK thought seriously about how such a tax could be implemented. Over the past half century, much has changed in the mobility of people, the structure of our tax system, the availability of data, and the scope for digital solutions and coordination between tax authorities. Old plans therefore cannot be pulled 'off the shelf'.
This project will evaluate whether a wealth tax for the UK would be desirable and deliverable. We will address the following three main research questions:
(1) Is a wealth tax justified in principle, on economic or other grounds?
(2) How should a wealth tax be designed, including definition of the tax base and solutions to administrative challenges such as valuation and liquidity?
(3) What would be the revenue and distributional effects of a wealth tax in the UK, for a variety of design options and at specified rates/thresholds?
To answer these questions, we will draw on a network of world-leading exports on tax policy from across academia, policy spheres, and legal practice. We will examine international experience, synthesising a large body of existing research originating in countries that already have (or have had) a wealth tax. We will add to these resources through novel research that draws on adjacent fields and disciplines to craft new solutions to the practical problems faced in delivering a wealth tax. We will also review common objections to a wealth tax.
These new insights will be published in a series of 'evidence papers' made available directly to the public and policymakers. We will also publish a final report that states key recommendations for government and (if appropriate) delivers a 'ready to legislate' design for a wealth tax. We will not recommend specific rates or thresholds for the tax. Instead, we will create an online 'tax simulator' so that policymakers and members of the public can model the revenue and distributional effects of different options. We will also work with international partners to inform debates about wealth taxes in other countries.
Even before the current crisis there were widespread calls for reforms to the taxation of wealth in the UK. These proposals have so far focused on reforming existing taxes. However, other countries have begun to raise the idea of introducing a 'wealth tax'-a new tax on ownership of wealth (net of debt). COVID-19 has rapidly pushed this idea higher up political agendas around the world, but existing studies fall a long way short of providing policymakers with a comprehensive blueprint for whether and how to introduce a wealth tax.
Critics point to a number of legitimate issues that would need to be addressed. Would it be fair, and would the public support it? Is this type of tax justified from an economic perspective? How would you stop the wealthiest from hiding their assets? Will they all simply leave? How can you value some assets? What happens to people who own lots of wealth, but have little income with which to pay a wealth tax? And if wealth taxes are such a good idea, why have many countries abandoned them?
These are important questions, without straightforward answers. The UK government last considered a wealth tax in the mid-1970s. This was also the last time that academics and policymakers in the UK thought seriously about how such a tax could be implemented. Over the past half century, much has changed in the mobility of people, the structure of our tax system, the availability of data, and the scope for digital solutions and coordination between tax authorities. Old plans therefore cannot be pulled 'off the shelf'.
This project will evaluate whether a wealth tax for the UK would be desirable and deliverable. We will address the following three main research questions:
(1) Is a wealth tax justified in principle, on economic or other grounds?
(2) How should a wealth tax be designed, including definition of the tax base and solutions to administrative challenges such as valuation and liquidity?
(3) What would be the revenue and distributional effects of a wealth tax in the UK, for a variety of design options and at specified rates/thresholds?
To answer these questions, we will draw on a network of world-leading exports on tax policy from across academia, policy spheres, and legal practice. We will examine international experience, synthesising a large body of existing research originating in countries that already have (or have had) a wealth tax. We will add to these resources through novel research that draws on adjacent fields and disciplines to craft new solutions to the practical problems faced in delivering a wealth tax. We will also review common objections to a wealth tax.
These new insights will be published in a series of 'evidence papers' made available directly to the public and policymakers. We will also publish a final report that states key recommendations for government and (if appropriate) delivers a 'ready to legislate' design for a wealth tax. We will not recommend specific rates or thresholds for the tax. Instead, we will create an online 'tax simulator' so that policymakers and members of the public can model the revenue and distributional effects of different options. We will also work with international partners to inform debates about wealth taxes in other countries.
Organisations
- London School of Economics and Political Science (Lead Research Organisation)
- London School of Economics and Political Science (University of London) (Collaboration)
- Institute for Fiscal Studies (Collaboration)
- Ipsos MORI (Collaboration)
- Atlantic Fellows for Social and Economic Equity (Collaboration)
- Resolution Foundation (Collaboration)
- University of Warwick (Collaboration)
- University of Warwick (Project Partner)
Publications
Tirard J
Wealth taxes in France
Tennant A
Valuation of Chattels
Ta K
Wealth tax: India
Summers A
(2021)
Ways of taxing wealth: alternatives and interactions
in Fiscal Studies
Russell-Prywata L
Beneficial ownership and wealth taxation
Rowlingson K
(2021)
Public attitudes to a wealth tax: the importance of 'capacity to pay'
in Fiscal Studies
Rezaee Azhar I
(2022)
Socio-demographical Profile of 7285 SARS-Cov-2 Positive Early Cases; Comparison with National Four Epidemic Waves.
in Medical journal of the Islamic Republic of Iran
Ramm A
Valuation of pension rights
Description | (1) On a one-off wealth tax, we conclude that: (a) A well-designed one-off wealth tax would: raise significant revenue in a fair and efficient way; be very difficult to avoid; and work in practice without excessive administrative cost. (b) In order to achieve these objectives, a one-off wealth tax must: be credibly one-off and not forestalled; apply to all residents (including 'non-doms') and recent emigrants; have a comprehensive tax base including all assets except low-value items; value assets at their open market value (OMV); allow for deferral of payment where the taxpayer is liquidity constrained; and avoid special exemptions and reliefs. (c) If the government chooses to raise taxes, it should implement a one-off wealth tax in preference to increasing taxes on work or spending. (2) On an annual wealth tax, we conclude that: (a) Instead of an annual wealth tax, the government should reform existing taxes on wealth. This means major structural reforms, not minor tinkering. (b) An annual wealth tax would only be justified in addition to these reforms if the aim was specifically to reduce inequality by redistributing wealth. (c) An annual wealth tax would be much more difficult to deliver effectively than a one-off wealth tax. (3) On the need for further evidence, we conclude that: (a) The ONS and HMRC should collect better data on high wealth individuals to help inform policymaking. (b) HMRC should receive additional resourcing to undertake policy analysis, particularly relating to the taxation of high wealth individuals. |
Exploitation Route | The outcomes can be taken forward by: (1) UK government, including HM Treasury and HMRC - to inform tax policymaking particularly in relation to high-wealth individuals and taxes on wealth (2) Other UK research organisations, for example Institute for Fiscal Studies, Resolution Foundation, IPPR - to develop further data analysis particularly in relation to wealth, and to develop policy recommendations for taxing wealth more effectively (3) International organisations, including OECD - to apply insights from the research to other country contexts, also in relation to wealth taxes (4) Academic researchers (globally) - to inform ongoing research on taxation of wealth, in economics, law and public policy disciplines |
Sectors | Government, Democracy and Justice |
URL | http://www.ukwealth.tax |
Description | Arun Advani and Emma Chamberlain offered evidence before the Treasury Select Committee as part of the 'Tax after Coronavirus' inquiry, while Arun Advani, Helen Hughson, and Andy Summers submitted written evidence to the inquiry. The points made in reference to wealth taxes were addressed in the Committee's final report. We have also presented our wealth tax and capital gains tax work to officials from a number of governmental institutions, including: HMRC, the HMRC Valuation Office, the Office for National Statistics, the National Audit Office, and the Treasury. At the same time, we have also presented our findings to politicians such as Lord Balfe (House of Lords), John Stevenson MP, Stephen Hammond MP, as well as to Tim Leunig, the Chief Economic Advisor to the Chancellor, and to the Labour Shadow Treasury team. More recently, Arun Advani participated in a Labour Party Conference debate (September 2021) and Emma Chamberlain in a Conservative Party Conference debate (October 2021) on wealth taxes, both hosted by the Chartered Institute of Taxation and the Institute for Fiscal Studies. As a results of our efforts to communicate our work to politicians and policymakers, the Wealth Tax Commission is frequently cited in policy debates, including in a motion put forward by 43 MPs calling for the introduction of a wealth tax in the UK as well as in the answer to that proposal by the Financial Secretary to the Treasury. Our work has also been picked up by lawmakers internationally, building the basis of a motion for a wealth tax proposed to the Canadian Parliament. Since the launch of the project in July 2020, the work of the Wealth Tax Commission has been extensively covered in the media, both in the UK and internationally. In the UK, publications such as The Financial Times, The Guardian, The Economist, BBC, The Independent, The Sunday Times, Forbes, Tortoise, Sky News, the Daily Mail, The Telegraph, the Express, and The Sun have all reported on the launch event and the final report. At the same time, foreign publications such as Der Standard (Austria), La Libre (Belgium), Le Figaro (France), Die Welt (Germany), Il Fatto Quotidiano (Italy), El Economista (Spain), Monitor Mercantil (Brazil), Finversia (Russia), The Business Times (Singapore), Bloomberg and The Washington Post (United States), Reuters, as well as the popular YouTube Channel TLDR News also reported our work, disseminating our findings to an international audience The project has also engaged with HMT and HMRC (see above). We have sent the core evidence papers for comments by HM Treasury and HMRC officials, and we have hosted roundtable discussions which were also attended by the HMT/HMRC policy teams. Finally, we have promoted new impact and knowledge exchange via our website, including by adding new functionalities to the tax simulator. This tool enables users to calculate their own tax liability by entering details of the assets they own. The simulator has been live for 14 months and it was already accessed by over 40,000 unique visitors. |
Sector | Government, Democracy and Justice |
Impact Types | Societal,Economic,Policy & public services |
Description | National Assembly Library of Quebec registered the evidence papers, making them available to the public free of time restrictions and free of charge. |
Geographic Reach | National |
Policy Influence Type | Influenced training of practitioners or researchers |
Description | Teaching a section on behavioural responses to a wealth tax as part of the Tax Policy Roundtable for MSc Tax students at Oxford University |
Geographic Reach | National |
Policy Influence Type | Influenced training of practitioners or researchers |
Description | Used materials as part of the LLM Taxation of Wealth course at LSE |
Geographic Reach | National |
Policy Influence Type | Influenced training of practitioners or researchers |
Description | Used materials as part of the MSc Tax course at Oxford University |
Geographic Reach | National |
Policy Influence Type | Influenced training of practitioners or researchers |
Description | Atlantic Fellows for Social and Economic Equity (AFSEE) COVID-19 Rapid Response Fund |
Amount | £100,000 (GBP) |
Organisation | Atlantic Fellows for Social and Economic Equity |
Sector | Charity/Non Profit |
Country | United Kingdom |
Start | 07/2020 |
End | 09/2021 |
Description | AFSEE |
Organisation | Atlantic Fellows for Social and Economic Equity |
Country | United Kingdom |
Sector | Charity/Non Profit |
PI Contribution | Providing leadership on what the project would look like, detailed comments and review on the paper produced. |
Collaborator Contribution | Authored an evidence paper. |
Impact | Beneficial ownership and wealth taxation (Louise Russell-Prywata); Wealth and Policy, Working Paper 124 |
Start Year | 2020 |
Description | CAGE |
Organisation | University of Warwick |
Department | Warwick University Centre for Competitive Advantage in the Global Economy |
Country | United Kingdom |
Sector | Academic/University |
PI Contribution | Leadership of the project and producing the draft working papers. |
Collaborator Contribution | Copyedited all the papers. |
Impact | Working papers copy-edited to professional standard |
Start Year | 2020 |
Description | IFS/CPP |
Organisation | Institute for Fiscal Studies |
Country | United Kingdom |
Sector | Charity/Non Profit |
PI Contribution | Providing leadership on what the project would look like, detailed comments and review on the paper produced, organisation of a workshop at which they were present. |
Collaborator Contribution | Produced an evidence paper and hosted the project launch event. |
Impact | The economics of a wealth tax (Stuart Adam and Helen Miller); Wealth and Policy, Working Paper 103 Project Launch Event |
Start Year | 2020 |
Description | III |
Organisation | London School of Economics and Political Science (University of London) |
Department | International Inequalities Institute |
Country | United Kingdom |
Sector | Academic/University |
PI Contribution | Leadership of the project. |
Collaborator Contribution | Project administrative support. |
Impact | - |
Start Year | 2020 |
Description | IPSOS |
Organisation | Ipsos MORI |
Country | United Kingdom |
Sector | Private |
PI Contribution | Providing leadership on what the project would look like, detailed comments and review on the paper produced, organisation of a workshop at which they were present. |
Collaborator Contribution | Conducted a study on attitudes to an annual wealth tax and co-authored a paper based on those findings. |
Impact | Public attitudes to a wealth tax (Karen Rowlingson, Amrita Sood and Trinh Tu); Wealth and Policy, Working Paper 102 |
Start Year | 2020 |
Description | Resolution Foundation |
Organisation | Resolution Foundation |
Country | United Kingdom |
Sector | Charity/Non Profit |
PI Contribution | Providing leadership on what the project would look like, detailed comments and review on the paper produced, organisation of a workshop at which they were present. |
Collaborator Contribution | Authored an evidence paper. |
Impact | The UK's wealth distribution and characteristics of high-wealth households (Arun Advani, George Bangham and Jack Leslie); Wealth and Policy, Working Paper 101 |
Start Year | 2020 |
Title | Tax Simulator |
Description | This tool enables users to design a wealth tax and calculate their own tax liability by entering the value of assets they own. They can also share their tax design, including via social media. |
Type Of Technology | Webtool/Application |
Year Produced | 2020 |
Impact | Over the 14 months it has been live, the website containing the simulator was accessed by over 40,000 unique visitors. Of these visitors, 70.7% were from the UK and the rest were international. |
URL | http://taxsimulator.ukwealth.tax/ |
Description | Article in Taxation: Should the UK have a wealth tax? |
Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Professional Practitioners |
Results and Impact | Emma Chamberlain, Wealth Tax Commissioner, published an article on the final report in Taxation. |
Year(s) Of Engagement Activity | 2020 |
URL | https://www.taxation.co.uk/articles/should-the-uk-have-a-wealth-tax- |
Description | CIOT and IFS Conservative Party Conference debate: Is Britain ready for a wealth tax? / 3 Oct 21 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | The Chartered Institute of Taxation and the Institute for Fiscal Studies hosted a debate at the Conservative Party Conference in Manchester about a wealth tax for the UK. Participants were Felicity Buchan MP, House of Commons Treasury Committee, Emma Chamberlain, Wealth Tax Commissioner, Stuart Adam, Institute for Fiscal Studies. The session was chaired by John Barnett, Chartered Institute of Taxation and contributor to the Wealth Tax Commission. A video of the event is available online: https://www.youtube.com/watch?v=U3MHL256upk |
Year(s) Of Engagement Activity | 2021 |
URL | https://www.tax.org.uk/conservative-conference-debate-is-britain-ready-for-a-wealth-tax |
Description | CIOT and IFS Labour Party Conference debate: A Wealth Tax to help pay for Covid? / 28 Sept 21 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | The Chartered Institute of Taxation and the Institute for Fiscal Studies hosted a debate at the Labour Party Conference in Brighton about the introduction of a wealth tax to pay for Covid. Participants were Dame Angela Eagle MP, House of Commons Treasury Committee, Arun Advani, Wealth Tax Commissioner, Helen Miller, Institute for Fiscal Studies. The session was chaired by John Cullinane, Director of Public Policy, Chartered Institute of Taxation. A video of the event is available online: https://www.presenta.co.uk/CIOT/IFS/280921/index.html |
Year(s) Of Engagement Activity | 2021 |
URL | https://www.tax.org.uk/ciot-ifs-labour-2021 |
Description | Channel 4 Dispatches (24.02.2021): Britain's £400bn COVID Bill - Who will pay? |
Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Public/other audiences |
Results and Impact | Liam Halligan investigates the financial cost of the COVID-19 pandemic. He discusses tax options and recent recommendations from the Wealth Tax Commission with Arun Advani. |
Year(s) Of Engagement Activity | 2021 |
URL | https://www.channel4.com/programmes/britains-400bn-covid-bill-dispatches?fbclid=IwAR2waDcORHt6f95j9J... |
Description | Debate at the Citywealth IFC Forum: Do we need a wealth tax and what will it look like? / 25 Jan 22 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Professional Practitioners |
Results and Impact | The Citywealth IFC Forum (in-person event in Central London) hosted a debate about the need for a wealth tax and the design of a wealth tax. Panellists were Andy Summers, Wealth Tax Commissioner, and Nimesh Sha, CEO Blick Rothenberg. Moderator was David Cracknell, former Political Editor of The Sunday Times & Founder of Big Tent Communications. |
Year(s) Of Engagement Activity | 2022 |
URL | https://www.citywealthmag.co.uk/ifcforum22agenda |
Description | Evidence before the Treasury Select Committee |
Form Of Engagement Activity | A formal working group, expert panel or dialogue |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Arun Advani and Emma Chamberlain presented evidence to MPs on the Treasury Select Committee as part of the 'Tax after Coronavirus' inquiry (https://committees.parliament.uk/oralevidence/1252/html/), while Arun Advani, Helen Hughson, and Andy Summers submitted written evidence to the inquiry (https://arunadvani.com/papers/AdvaniHughsonSummers2020_TaxAfterCoronavirusSubmission.pdf). The points made in reference to wealth taxes were addressed in the Committee's final report (https://committees.parliament.uk/publications/4865/documents/50796/default/). |
Year(s) Of Engagement Activity | 2020,2021 |
URL | https://committees.parliament.uk/oralevidence/1252/html/ |
Description | Final Report Launch Event |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Public/other audiences |
Results and Impact | The Final Report of the Wealth Tax Commission was published on 9th December 2020 at an event hosted by the London School of Economics. The format was a presentation of our main recommendations and how a one-off wealth tax would work in practice, followed by a discussion and questions. A video and podcast of the event are available. Video: https://www.youtube.com/watch?v=JmRnvZ2ZlbI. Podcast: https://podcasts.apple.com/us/podcast/report-of-the-uk-wealth-tax-commission/id279428154?i=1000502252553 |
Year(s) Of Engagement Activity | 2020 |
URL | https://www.youtube.com/watch?v=JmRnvZ2ZlbI&feature=emb_title&ab_channel=LSE |
Description | Investor's Chronicle (14.01.21): A wealth tax isn't perfect by it's better than the alternatives |
Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Public/other audiences |
Results and Impact | Opinion piece written by Arun Advani about his work with the Wealth Tax Commission and the proposal for a one-off wealth tax. |
Year(s) Of Engagement Activity | 2021 |
URL | https://www.investorschronicle.co.uk/news/2021/01/14/a-wealth-tax-isn-t-perfect-but-it-s-better-than... |
Description | LSE Blog post: Is it time for a wealth tax to offset the economic damage from COVID-19? |
Form Of Engagement Activity | Engagement focused website, blog or social media channel |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Public/other audiences |
Results and Impact | We wrote a blog post about our findings that was co-published by the LSE Business Review and the LSE Covid-19 Blog: https://blogs.lse.ac.uk/businessreview/2020/12/09/is-it-time-for-a-wealth-tax-to-offset-the-economic-damage-from-covid-19/ https://blogs.lse.ac.uk/covid19/2020/12/09/is-it-time-for-a-wealth-tax-to-offset-the-economic-damage-from-covid-19/ |
Year(s) Of Engagement Activity | 2020 |
URL | https://blogs.lse.ac.uk/businessreview/2020/12/09/is-it-time-for-a-wealth-tax-to-offset-the-economic... |
Description | LSE British Politics and Policy Blog post: Official statistics underestimate wealth inequality in Britain / 7 Jan 22 |
Form Of Engagement Activity | Engagement focused website, blog or social media channel |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Public/other audiences |
Results and Impact | Arun Advani, Wealth Tax Commissioner, and Hannah Tarrant, contributor to the Wealth Tax Commission, wrote a blog post on the newly published seventh round of the Wealth and Assets Survey and its limitations. It got picked up by many major news outlets reporting on the new wealth statistics, e.g. by the Independent: https://www.independent.co.uk/news/business/household-wealth-richest-one-percent-poorest-ons-b1989181.html |
Year(s) Of Engagement Activity | 2022 |
URL | https://blogs.lse.ac.uk/politicsandpolicy/official-statistics-underestimate-wealth-inequality/ |
Description | Launch Event |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Public/other audiences |
Results and Impact | The Institute for Fiscal Studies hosted the launch of the project. The format was short presentations setting out the evolution of UK wealth and the possible rationales and difficulties of introducing a wealth tax followed by a discussion. The recording of the event is available online: https://www.youtube.com/watch?v=Yx4r4G7ZIP4&t=283s |
Year(s) Of Engagement Activity | 2020 |
URL | https://www.ifs.org.uk/publications/14916 |
Description | LexisNexis article: Wealth Tax Commission-a wealth tax for the UK final report |
Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Professional Practitioners |
Results and Impact | We published an article on LexisNexis about the final report of the Wealth Tax Commission. |
Year(s) Of Engagement Activity | 2021 |
URL | https://www.lexisnexis.co.uk/legal/news/wealth-tax-commission-a-wealth-tax-for-the-uk-final-report |
Description | Online public event at LSE: Global Tax Justice in the Twenty-First Century: promises and challenges / 1 Feb 22 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Public/other audiences |
Results and Impact | The Ralph Miliband Programme and the International Inequalities Institute at LSE hosted an online public event on global tax justice in the 21st century. Speakers were Arun Advani, Wealth Tax Commissioner, Alex Cobham, Chief Executive of the Tax Justice Network, Jayati Ghosh, Professor of Economics at the University of Massachusetts, Amherst. The event was chaired by Robin Archer, Director of the Ralph Miliband Programme at LSE. A video of the event is available online: https://www.youtube.com/watch?v=W5QVEPYS8YQ |
Year(s) Of Engagement Activity | 2022 |
URL | https://www.lse.ac.uk/Events/2022/02/202202011830/tax |
Description | Panel hosted by The Conduit, the Financial Times and Patriotic Millionaires UK: Partners In Progress: Tax vs Philanthropy: What Can the Government Do That I Can't Do Better? / 24 Nov 21 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Public/other audiences |
Results and Impact | The Conduit, the Financial Times and Patriotic Millionaires UK hosted an in-person event in Central London with a panel discussing the merits of raising taxes on wealth versus encouraging philantropic activities of the super-rich. Panellists were Stephanie Brobbey, The Good Ancestor Movement, Arun Advani, Wealth Tax Commissioner, Gary Stevenson, Patriotic Millionaires UK: Partners In Progress. The panel was chaired by Stefan Wagstyl, Wealth & Money Editor at the Financial Times. A video of the event is available online: https://www.youtube.com/watch?v=xVAsAgu5kvE |
Year(s) Of Engagement Activity | 2021 |
URL | https://www.theconduit.com/past-events/tax-vs-philanthropy-what-can-the-government-do-that-i-cant-do... |
Description | Panel hosted by the Centre for the Study of Financial Innovation: A Wealth Tax for the UK: is this an idea whose time has come? With Arun Advani & Edward Troup / 10 Feb 21 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Professional Practitioners |
Results and Impact | The Centre for the Study of Financial Innovation hosted an online panel moderated by its Co-director, Jane Fuller, debating whether the time of a wealth tax for the UK has come. Panellists were Arun Advani, Wealth Tax Commissioner, and Edward Troup, contributor to the work of the Wealth Tax Commission. A video of the event is available online. |
Year(s) Of Engagement Activity | 2021 |
URL | https://www.youtube.com/watch?v=ymCMOvfEoXQ |
Description | Presentation about wealth tax modelling to HMRC 16 Nov 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation about wealth tax modelling to HMRC 16 Nov 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation at Tax Policy Roundtable for Oxford MSc students in Tax 11 Jan 21 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Postgraduate students |
Results and Impact | Presentation at Tax Policy Roundtable for Oxford MSc students in Tax 11 Jan 21 |
Year(s) Of Engagement Activity | 2021 |
Description | Presentation of Wealth Tax research at KPMG Event 15 Sept 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Professional Practitioners |
Results and Impact | Presentation of Wealth Tax research at KPMG Event 15 Sept 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation of capital gains tax and wealth tax work to clerk of the Treasury Select Committee as part of the "Tax After Coronavirus" enquiry / 10 Aug 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation of capital gains tax and wealth tax work to clerk of the Treasury Select Committee as part of the "Tax After Coronavirus" enquiry / 10 Aug 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation of draft of the final report by the Wealth Tax Commission to HMRC and Treasury officials 19 Nov 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation of draft of the final report by the Wealth Tax Commission to HMRC and Treasury officials 19 Nov 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation on Capital Gains Tax and Wealth Tax research to Lord Balfe (House of Lords) 22 Sept 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation on Capital Gains Tax and Wealth Tax research to Lord Balfe (House of Lords) 22 Sept 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation on Wealth Tax work to HMRC and Her Majesty's Treasury 29 Oct 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation on Wealth Tax work to HMRC and Her Majesty's Treasury 29 Oct 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to "Knowledge Exchange" session on wealth tax work to practitioners from various accountancies, law firms, etc to get input / 11 Aug 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Professional Practitioners |
Results and Impact | Presentation to "Knowledge Exchange" session on wealth tax work to practitioners from various accountancies, law firms, etc to get input / 11 Aug 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to Civil Society Groups (including Oxfam, Tax Justice, ICRIT) 03 Dec 2020 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Third sector organisations |
Results and Impact | Presentation to Civil Society Groups (including Oxfam, Tax Justice, ICRIT) 03 Dec 2020 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to David Gauke (former Financial Secretary to the Treasury) on possible wealth tax 1 Oct 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation to David Gauke (former Financial Secretary to the Treasury) on possible wealth tax 01 Oct 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to HMRC Valuation Office about valuation parts of draft of final Wealth Tax Commission report 25 Nov 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation to HMRC Valuation Office about valuation parts of draft of final Wealth Tax Commission report 25 Nov 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to HMRC and ONS on how wealth is measured in the UK 1 Sept 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation to HMRC and ONS on how wealth is measured in the UK 1 Sept 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to John Stevenson MP on capital gains tax and wealth tax research 8 Sept 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation to John Stevenson MP on capital gains tax and wealth tax research 8 Sept 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to Labour Shadow Treasury team on capital gains tax and wealth tax research 4 Dec 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation to Labour Shadow Treasury team on capital gains tax and wealth tax research 4 Dec 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to National Audit Office (NAO) on environmental taxation and protecting the poor as part of an enquiry they are currently doing 13 Aug 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation to NAO on environmental taxation and protecting the poor as part of an enquiry they are currently doing (based on my fiscal studies, and my part of last CAGE policy report) |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to Private Equity Managers on wealth tax work / 11 Oct 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Industry/Business |
Results and Impact | Presentation to Private Equity Managers on wealth tax work / 11 Oct 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to Rob Roberts MP on capital gains tax and wealth tax research 22 Sept 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation to Rob Roberts MP on capital gains tax and wealth tax research 22 Sept 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to Stephen Hammond MP on capital gains tax and wealth tax research 30 Sept 20 and 4 Dec 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation to Stephen Hammond on capital gains tax and wealth tax research 30 Sept 20 and 4 Dec 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to Tim Leunig, Chief Economic Advisor to the Chancellor, on wealth tax work / 4 Dec 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation to Tim Leunig, Chief Economic Advisor to the Chancellor, on wealth tax work / 4 Dec 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Presentation to Treasury officials on Wealth Tax work 29 Jun 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Presentation to Treasury officials on Wealth Tax work 29 Jun 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Resolution Foundation blog: The Missing Billions / 3 Jan 21 |
Form Of Engagement Activity | Engagement focused website, blog or social media channel |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Public/other audiences |
Results and Impact | Jack Leslie, contributor to the Wealth Tax Commission, wrote a post for the Resolution Foundation blog about the size and distribution of UK household wealth based on his work with Arun Advani and George Bangham. |
Year(s) Of Engagement Activity | 2021 |
URL | https://www.resolutionfoundation.org/publications/the-missing-billions/ |
Description | Rethink Tax podcast: What would a wealth tax look like in the UK? / 21 Dec 20 |
Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Public/other audiences |
Results and Impact | The Rethink Tax podcast invited Andy Summers, Wealth Tax Commissioner, to discuss the findings of the Wealth Tax Commission in the space of a full episode (1hr). |
Year(s) Of Engagement Activity | 2020 |
URL | https://podcasts.apple.com/gb/podcast/what-would-a-wealth-tax-look-like-in-the-uk/id1549370615?i=100... |
Description | Runnymede Radio special episode: Dr. Andy Summers: Wealth taxation in response to Covid-19 |
Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Postgraduate students |
Results and Impact | Andy Summers, Wealth Tax Commissioner, was invited on a special episode of Runnymede Radio to discuss the findings and proposals of the Wealth Tax Commission. |
Year(s) Of Engagement Activity | 2021 |
URL | https://podcasts.apple.com/us/podcast/dr-andy-summers-wealth-taxation-in-response-to-covid-19/id1214... |
Description | Tax Journal article: The case for a one-off wealth tax / 27 Jan 21 |
Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Professional Practitioners |
Results and Impact | The three Wealth Tax Commissioners, Arun Advani, Emma Chamberlain, and Andy Summers, wrote an article for Tax Journal making the case for a one-off wealth tax, responding to an analysis of the final report published earlier in the same outlet: https://www.taxjournal.com/articles/the-wealth-tax-commission-s-final-report |
Year(s) Of Engagement Activity | 2021 |
URL | https://www.taxjournal.com/articles/the-case-for-a-one-off-wealth-tax |
Description | The Bunker podcast: COVID: New Scariant Detected / 18 May 21 |
Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Public/other audiences |
Results and Impact | Arun Advani, Wealth Tax Commissioner, was invited on The Bunker podcast to discuss whether a one-off wealth tax could pay the world's hefty COVID bill. |
Year(s) Of Engagement Activity | 2021 |
URL | https://podcasts.apple.com/gb/podcast/covid-new-scariant-detected/id1496246490?i=1000522102067 |
Description | Times Red Box Article |
Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Media (as a channel to the public) |
Results and Impact | Wrote an article for the Times Red Box. This coincided with the launch date of the wealth tax project. |
Year(s) Of Engagement Activity | 2020 |
URL | https://www.thetimes.co.uk/article/the-rich-pay-more-tax-than-ever-but-some-hand-over-more-than-othe... |
Description | UK Wealth Tax Workshop |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Study participants or study members |
Results and Impact | Hosted a conference to discuss the core evidence papers for the wealth tax project. Attendees at the conference included all core and background evidence paper contributors, an external commentator for each paper, and a small number of invited guests including academics, practitioners and policymakers from HMRC/HMT. |
Year(s) Of Engagement Activity | 2020 |
Description | Uncommons podcast with Nate Erskine-Smith (Canadian MP): One-off wealth taxation with Arun Advani / 21 Feb 21 |
Form Of Engagement Activity | A broadcast e.g. TV/radio/film/podcast (other than news/press) |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Policymakers/politicians |
Results and Impact | The Uncommons podcast hosted by Canadian MP Nate Erskine-Smith invited Arun Advani, Wealth Tax Commissioner to talk about one-off wealth taxation. Based on the findings of the Wealth Tax Commission, Mr Erskine-Smith later proposed a motion for a wealth tax to the Canadian Parliament: https://www.ourcommons.ca/members/en/nathaniel-erskine-smith(88687)/motions/11102201 |
Year(s) Of Engagement Activity | 2021 |
URL | https://uncommons.ca/2021/02/21/one-off-wealth-taxation-with-arun-advani-s2-e9/ |
Description | Various articles on the Economics Observatory |
Form Of Engagement Activity | Engagement focused website, blog or social media channel |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Public/other audiences |
Results and Impact | Various articles published on the Economic Observatory by the PIs and other project contributors: - Why did some earlier wealth taxes fail and could this time be different? (Sarah Perret) - https://www.economicsobservatory.com/why-did-some-earlier-wealth-taxes-fail-and-could-time-be-different - Should a UK wealth tax be devolved? (David Eiser) - https://www.economicsobservatory.com/should-uk-wealth-tax-be-devolved - Does history suggest that wealth taxes help to improve the public finances? (Martin Chick) - https://www.economicsobservatory.com/does-history-suggest-wealth-taxes-help-improve-public-finances - How much revenue might be raised by a one-off wealth tax? (Arun Advani, Helen Hughson and Hannah Tarrant) - https://www.economicsobservatory.com/how-much-revenue-might-be-raised-one-wealth-tax - One-off wealth taxes: what can we learn from history? (Nick O'Donovan) - https://www.economicsobservatory.com/one-wealth-taxes-what-can-we-learn-history - What are the implications of Covid-19 for wealth inequality? (Helen Hughson) - https://www.economicsobservatory.com/what-are-the-implications-of-covid-19-for-wealth-inequality |
Year(s) Of Engagement Activity | 2020,2021 |
URL | https://www.economicsobservatory.com |
Description | Various presentations on final report by the Wealth Tax Commission to various audiences / 3 and 4 Dec 20 |
Form Of Engagement Activity | A talk or presentation |
Part Of Official Scheme? | No |
Geographic Reach | National |
Primary Audience | Policymakers/politicians |
Results and Impact | Various presentations on final report by the Wealth Tax Commission to various audiences / 3 and 4 Dec 20 |
Year(s) Of Engagement Activity | 2020 |
Description | Wealth Tax Commission Research Press Coverage (2020-2021) |
Form Of Engagement Activity | A press release, press conference or response to a media enquiry/interview |
Part Of Official Scheme? | No |
Geographic Reach | International |
Primary Audience | Public/other audiences |
Results and Impact | The project received widespread media coverage, both in the UK and internationally. In the UK, outlets including The Financial Times, The Guardian, The Economist, BBC, The Independent, The Sunday Times, Forbes, Tortoise, Sky News, the Daily Mail, The Telegraph, the Express, and The Sun reported on our conclusions (see list below). The Wealth Tax Commission's proposal was also prominently featured on the popular YouTube Channel TLDR News; the corresponding video has been viewed almost 100,000 times (https://www.youtube.com/watch?v=PM9Ksu7Wh8g). At the same time, foreign publications such as Der Standard (Austria), La Libre (Belgium), Le Figaro (France), Die Welt (Germany), Il Fatto Quotidiano (Italy), El Economista (Spain), Monitor Mercantil (Brazil), Finversia (Russia), The Business Times (Singapore), Bloomberg and The Washington Post (United States), as well as Reuters also reported our work, disseminating our findings to an international audience. According to the LexisNexis database, at least unique 160 media articles referenced the findings of the Wealth Tax Commission between the 5th of November 2020 and 1st March 2021 (see Prabhakar, Rajiv (2021): "What are the Barriers to Taxing Wealth? The Case of a Wealth Tax Proposal in the UK," Journal of Social Policy). Selection of media articles: Macau Business (05.06.2020): 'Tax the rich? Post-pandemic recovery idea finds favour in UK' (https://www.macaubusiness.com/tax-the-rich-post-pandemic-recovery-idea-finds-favour-in-uk/) Financial Times (14.06.2020): 'Wealthy pay less tax than official headline rates, study finds' (https://www.ft.com/content/09f373cb-bda7-4989-8793-472ac338956a) The Times (15.06.20): Minimum tax on wealthy 'would raise an extra £11bn' (https://www.thetimes.co.uk/article/minimum-tax-on-wealthy-would-raise-an-extra-11bn-dtkgkb6g9) Anderson Tax News (31.07.20): The Study: A Reply (https://uk.andersen.com/newsletter/tax-news-july-2020/) Financial Times (08.09.20): Private equity says payouts levy rise would drive industry out of UK (https://www.ft.com/content/c9b36086-0b0f-4d31-8ff7-ab6c6ad4a6ad) Guardian (21.09.20): About a quarter of the UK's top earners are migrants, data shows (https://www.theguardian.com/money/2020/sep/20/about-a-quarter-of-the-uks-top-earners-are-migrants-data-shows?utm_term=Autofeed&CMP=twt_gu&utm_medium&utm_source=Twitter#Echobox=1600615209) Forbes (21.09.20): Nearly a quarter of U.K.'s top one percent are migrants (https://www.forbes.com/sites/chantaldasilva/2020/09/21/nearly-a-quarter-of-uks-top-one-percent-are-migrants-study-finds/?sh=5497ec01935b) The Times (23.09.20): Foreigners don't take our jobs - they create them and boost the Treasury (https://www.thetimes.co.uk/article/foreigners-don-t-take-jobs-they-create-them-and-boost-the-treasury-m8fmx6z3w) The Economist (26.09.20): Does immigration import inequality? (https://www.economist.com/britain/2020/09/24/does-immigration-import-inequality) La Libre (30.09.20) - Belgium (https://www.lalibre.be/economie/conjoncture/financer-les-deficits-records-l-equation-a-multiples-inconnues-du-chancelier-britannique-5f7450577b50a677fbe3c951) Financial Times (09.11.20): 'Will the UK axe private equity tax break worth millions?' (https://www.ft.com/content/3771030c-b8ad-4da6-b0af-0311a8e82ec8) Financial Times (15.11.20): Carried interest is pure fiscal "cakeism" (https://www.ft.com/content/d7ac4424-9cf2-46a7-8ea2-fe1a479a8412) Financial Times (20.11.20): 'Wealth tax risks worsening defective CGT system' (https://www.ft.com/content/af239665-df0f-45f5-9b23-279bdbabe965) BBC (09.12.20): "Tax the wealthy to pay for coronavirus"(https://www.bbc.co.uk/news/business-55236851) The Guardian (09.12.20): Economic cost of Covid crisis prompts call for one-off UK wealth tax (https://www.theguardian.com/business/2020/dec/09/economic-cost-of-covid-crisis-prompts-call-for-one-off-uk-wealth-tax) Foreign Policy (US) (09.12.20): Morning Brief (https://foreignpolicy.com/2020/12/09/senate-to-vote-on-blocking-23-billion-uae-arms-sale/) El Economista (09.12.20) - Spain (https://www.eleconomista.es/opinion-blogs/noticias/10934134/12/20/La-reforma-tributaria-programada-para-el-primer-trimestre-de-2021.html) News 24 (09.12.20) - France (https://news-24.fr/taxer-les-riches-serait-le-meilleur-moyen-de-sauver-leconomie-de-covid-selon-un-groupe-dexperts/) Monitor Mercantil (09.12.20) - Brazil (https://monitormercantil.com.br/reino-unido-estuda-taxacao-sobre-grandes-fortunas/) Finversia (09.12.20) - Russia (https://www.finversia.ru/publication/v-velikobritanii-mogut-vvesti-nalog-na-bogatstvo-86423) Il Fatto Quotidiano (09.12.20) - Italy (https://www.ilfattoquotidiano.it/2020/12/09/una-tassa-sulle-grandi-ricchezze-e-il-modo-piu-equo-ed-efficiente-per-trovare-risorse-contro-il-covid-lo-dice-uno-studio-di-economisti-inglesi/6031575/) Financial Times (11.12.20): Wealth tax report gives 'political cover' for raising existing taxes (https://www.ft.com/content/43d55129-6a9f-4846-b6a8-938dbba83f3d) The Independent (13.12.20): 'Is it time for politicians to start discussing a wealth tax?' (https://www.independent.co.uk/independentpremium/politics-explained/wealth-tax-tory-manifesto-promise-mansion-tax-real-estate-b1771234.html) Accountancy Today (15.12.20): Wealth tax not 'politically or economically sensible' (https://www.accountancytoday.co.uk/2020/12/10/aat-wealth-tax-not-politically-or-economically-sensible/) Die Welt (18.12.2020) Trotz Rekordschulden fordert Johnson Steuersenkungen. (https://www.welt.de/wirtschaft/article222815192/Grossbritannien-Mit-seinen-Steuerplaenen-beschwoert-Johnson-eine-Regierungskrise-herauf.html) Le Figaro (23.12.20) - France (https://www.lefigaro.fr/conjoncture/quand-les-anglais-reflechissent-a-un-impot-exceptionnel-sur-la-fortune-20201223) The Observer (03.01.2021): 'Richest 1% have almost a quarter of UK wealth, study claims'. (https://www.theguardian.com/inequality/2021/jan/03/richest-1-have-almost-a-quarter-of-uk-wealth-study-claims) The Times (06.01.21): A wealth tax would be popular - but that does not make it right (https://www.thetimes.co.uk/article/a-wealth-tax-would-be-popular-but-that-does-not-make-it-right-2ckfcjbn2) Investor's Chronicle (14.01.21): After the pandemic: the tax changes to expect (https://www.investorschronicle.co.uk/ideas/2021/01/14/after-the-pandemic-the-tax-changes-to-expect/) Bloomberg (23.01.21) Sunak's tax choices to fix UK debt range from wealth to fuel. (https://www.bloomberg.com/news/articles/2021-01-23/sunak-s-tax-choices-to-fix-u-k-debt-range-from-wealth-to-fuel) Investor's Chronicle (11.02.21): Lesson's from history: France's wealth tax did more harm than good (https://www.investorschronicle.co.uk/education/2021/02/11/lessons-from-history-france-s-wealth-tax-did-more-harm-than-good/) Reuters (15.02.21) One-off wealth tax might help fix COVID hit to UK budget -lawmaker. (https://www.reuters.com/world/uk/one-off-wealth-tax-might-help-fix-covid-hit-uk-budget-lawmaker-2021-02-15/) Washington Post (19.02.2021) Should the rich pay for the pandemic? Argentina thinks so. Other countries are taking a look. (https://www.washingtonpost.com/world/the_americas/coronarvirus-argentina-wealth-tax/2021/02/19/96fd1ec4-711b-11eb-93be-c10813e358a2_story.html) Der Standard (27.02.21) Neue Steuern: Sollen Reiche die Corona-Kosten mitfinanzieren? (https://www.derstandard.at/story/2000124372196/neue-steuern-sollen-reiche-die-corona-kosten-mitfinanzieren) The Business Times (20.03.21) In the line of duty: On wealth taxes, Singapore must decide what it most wants to achieve; and know what it could cost. (https://www.businesstimes.com.sg/brunch/in-the-line-of-duty-on-wealth-taxes-singapore-must-decide-what-it-most-wants-to-achieve-and) BROADCASTS LBC (09.12.20) Mention of Warwick/ LSE research saying a one off tax on wealth could raise 260billion and cover the cost of tackling COVID without having to raise income tax. Paying for COVID - phone in. Mention of the one-off wealth tax idea suggested by Warwick and LSE study which says the rich have the broadest shoulders financially and could be in a position to potentially help millions of people. talkRADIO (09.12.20) Discussion on the idea of the wealth tax, as proposed by Warwick and LSE to cover costs of tackling COVID. Share Radio (16.12.20 and 17.12.20) Discussion of the paper from Warwick and LSE on how taxing the richest could cover the costs of corona virus. BBC Five Live, and all BBC regional programmes (15.01.21) Interview with Arun Advani on the impact of COVID on GDP, ahead of results published today. BBC 5 Live and all BBC stations and regional stations (12.02.21) Interview with Dr Arun Advani from economics talking about GDP figures - shrinking economy - worst for three years. Whether we are technically in recession - two quarters of negative growth. BBC Radio Five Live (04.03.21) Dr Arun Advani of CAGE and the Department of Economics discusses the newly unveiled budget from the UK government. |
Year(s) Of Engagement Activity | 2020,2021 |