Race is on to win investment by cutting corporate tax rates

Article Abstract:

Issues concerning tax harmonization within the European Union are discussed. It is argued that damaging tax competition could lead to a shift in the burden of tax from mobile firms to non-mobile individuals.

European Union, Public affairs, Corporate Tax Administration, Column, Corporate taxes, Tax administration, Tax policy

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Brown hands out 6bn pounds sterling to help children, elderly and low paid

Article Abstract:

UK Chancellor Gordon Brown has managed to both cut taxes and increase spending in his 1999 Budget. There will be a 10p bottom rate of tax on the first 1,500 pounds sterling of income from Apr 1999, while the basic rate of tax will also be reduced, from 23p to 22p in the pound, from Apr 2000. Brown has placed particular emphasis on assisting low-paid families with children, and the Treasury claims that 20 million households will see a rise in their income after changes including a new children's tax credit are phased in over the period to 2002.

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Brown's modest giveaway no threat to sound financial management

Article Abstract:

UK Chancellor Gordon Brown's 1999 Budget is mildly expansionary, in contrast with the strictly neutral Budget that many City of London analysts had anticipated. This is because tax revenues have been higher than the government had forecast and because lower interest rates have reduced the government's debt repayments. The 1999 Budget statement places the Public Sector Net Cash Requirement, equivalent to the old Public Sector Borrowing Requirement, in surplus by 5.2 billion pounds sterling in the current financial year, from the 2.8 billion pounds sterling forecast in Nov 1998.

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