The UK’s Tax Battles, Part One: How We Got Here
10/18/22 • 35 min
If you’ve been following taxes closely these past few months, you know that the UK is currently undergoing a drastic change.
This episode of The Deduction is part one in our ongoing coverage of the UK’s tax battles. Jesse chats with Tom Clougherty, research director and head of tax at the Centre for Policy Studies in London. Tom talks us through what all went down in the UK this fall: from the leadership elections to the countless U-turns the new prime minister has made to try and reform the country’s tax code.
Shortly after we finished recording this episode, news broke that Chancellor Kwasi Kwatern was being ousted, and Jeremy Hunt would take over the Exchequer, with the promise that, yet again, another U-turn would happen on the country’s budget.
While this episode doesn’t get into that turn of events, it is still a very informative start showing how we got here and where the country should go on taxes.
A quick British glossary for this episode—“Bugbear”: a cause of obsessive fear, irritation, or loathing.
Links:
https://www.taxfoundation.org/mailbag
https://cps.org.uk/our-team/tom-clougherty/
https://taxfoundation.org/uk-capital-allowances-super-deduction/
https://taxfoundation.org/2022-international-tax-competitiveness-index/
Follow us!
https://twitter.com/TaxFoundation
https://twitter.com/deductionpod
Support the show
If you’ve been following taxes closely these past few months, you know that the UK is currently undergoing a drastic change.
This episode of The Deduction is part one in our ongoing coverage of the UK’s tax battles. Jesse chats with Tom Clougherty, research director and head of tax at the Centre for Policy Studies in London. Tom talks us through what all went down in the UK this fall: from the leadership elections to the countless U-turns the new prime minister has made to try and reform the country’s tax code.
Shortly after we finished recording this episode, news broke that Chancellor Kwasi Kwatern was being ousted, and Jeremy Hunt would take over the Exchequer, with the promise that, yet again, another U-turn would happen on the country’s budget.
While this episode doesn’t get into that turn of events, it is still a very informative start showing how we got here and where the country should go on taxes.
A quick British glossary for this episode—“Bugbear”: a cause of obsessive fear, irritation, or loathing.
Links:
https://www.taxfoundation.org/mailbag
https://cps.org.uk/our-team/tom-clougherty/
https://taxfoundation.org/uk-capital-allowances-super-deduction/
https://taxfoundation.org/2022-international-tax-competitiveness-index/
Follow us!
https://twitter.com/TaxFoundation
https://twitter.com/deductionpod
Support the show
Previous Episode
The Woes of Temporary Tax Policy
From the Tax Cuts and Jobs Act in 2017 to the Inflation Reduction Act signed into law just this summer, lawmakers across the political spectrum are often tempted to implement temporary tax reforms.
But is this how tax policy should be done?
Garrett Watson joins Jesse to discuss the pros and cons of writing tax laws that have an end date and why we find ourselves having a debate at the end of each year about so many temporary provisions.
Links:
https://taxfoundation.org/making-the-tax-cuts-and-jobs-act-individual-income-tax-provisions-permanent/
https://taxfoundation.org/economic-growth-opportunity-tax-reforms/
https://taxfoundation.org/temporary-tax-policies-in-budget-reconciliation/
https://taxfoundation.org/cbo-report-us-gdp-budget-deficit/
https://taxfoundation.org/tax-extenders-expiring-tax-provisions-2021/
Follow us!
https://twitter.com/TaxFoundation
https://twitter.com/deductionpod
Support the show
Next Episode
Post-Election Breakdown
The 2022 midterm elections are wrapping up, and taxpayers are looking at a divided Congress for the next two years. Senior Policy Analyst Garrett Watson sits down with Jesse at Tax Foundation's headquarters to give a quick analysis of what these elections mean for tax policy. They talk through what we can expect from the approaching "lame-duck" session, what a Republican House and Democrat Senate could find agreement on, and what priorities the upcoming Congress should focus on.
Links:
https://taxfoundation.org/tax-extenders-2022/
https://taxfoundation.org/tax-cuts-jobs-act-business-tax-increases/
Follow us!
https://twitter.com/TaxFoundation
https://twitter.com/deductionpod
Support the show
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