Intergenerational equity and the perils of groupthink

As the implications of what it appears that the coalition is about to do in the upcoming budget sinks in, I have to admit to growing increasingly concerned. No-one – outside of the Labour leadership contest anyway – denies that the structural deficit needs to be tackled or that we don’t face some unpleasant spending… Continue reading Intergenerational equity and the perils of groupthink

Cutting tax is not a zero sum game

I’m cautiously optimistic about the rumoured plan of a 2.5% drop in VAT. It sounds like a good move to me, for several reasons. One thing a VAT cut won’t do is lead automatically to a reduction in prices. Most food isn’t VAT-rated and it is hard to believe that a CD priced £9.99 this… Continue reading Cutting tax is not a zero sum game

My budget take on Comment is Free

Well, I seem to be all right. As a public transport-using, non-smoker on a decent wage who is a moderate drinker, I suspect I’ll be the beneficiary of the 2p income tax cut overall (although the devil is always in the detail). But it doesn’t look as if too many people will be particularly happy… Continue reading My budget take on Comment is Free