First, income tax and employee national insurance contributions would be combined into a single tax ‘schedule’, with all sources of income taxed at the same rate, and on the same basis. Second, the existing system of marginal tax bands would be replaced by a ‘formula-based’ system such that every taxpayer’s marginal rate would depend on their own precise level of income. The paper argues that such a system would be more efficient and progressive, and in addition could be used to raise revenues in a way that is fairer and more politically acceptable than the current system.
Snakes and ladders: Tackling precarity in social security and employment supportAcross the country, people are trying to make ends meet, build financial security and pursue their aspirations. But, in a vicious cycle of snakes and ladders, many are being pulled down into poverty.
Making markets: The City's role in industrial strategyTo tackle climate change, we need a significant increase in public and private capital investment.
Broken hearted: A spotlight paper on cardiovascular diseaseProgress on cardiovascular disease was a significant driver of better health and prosperity in the latter half of the 20th century, however progress has recently stalled – with indications it may be in reverse.