Smart move, Mr Brown: tax people with no income at all

Article Abstract:

UK Chancellor Gordon Brown's desire to tax child benefit paid to well-off families initially appears reasonable. It would indeed seem unfair that wealthy mothers receive money they do not really need. However, there are in fact few women who pay the top rate of tax, and taxing the child benefit received by these women would raise only 70 million pounds sterling a year. This would provide very little additional money for the large numbers of women on low incomes. An alternative may be to tax child benefit on the basis of the father's income, but this would have very negative practical implications.

United Kingdom, Taxes, Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs), Income Security, Domestic economic assistance, Tax policy, Brown, Gordon (British politician)

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IMF moves to get tough on private creditors in crisis-hit economies

Article Abstract:

Very mixed views continue to be expressed about how the International Monetary Fund (IMF) should address the very serious problem of countries defaulting on debt. Some observers believe that the IMF should set a minimum level of foreign exchange reserves for countries to which it is making emergency loans, while others suggest that the IMF could endorse temporary loan standstills by giving new money to a country that has suspended its debt repayments temporarily. There seems to be little prospect of the IMF agreeing a policy on this issue in the near future.

Europe, Strategy & planning, National Government Liabilities & Debt, Management, International Monetary Fund, National debt, External debt relief, Debt relief

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The Captain Kirk approach to rethinking the welfare state

Article Abstract:

It seems increasingly apparent that radical policies will be required if the UK is to successfully restructure its welfare state. A possible approach has been put forward by Michael Orszag and Dennis Snower, who suggest the creation of four individual accounts covering health, education, retirement and unemployment. Everybody would be required to pay a minimum amount into each account and draw out a maximum. Another approach is that put forward by Michael Mandel, who believes that it could be possible to establish futures markets in incomes.

Social Security Financing Alternatives, Social security, Financing

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