EDITORIAL: TAX REFORM AND SIMPLIFICATION |
| |
| Authors: | D R Myddelton |
| |
| Institution: | D. R. Myddelton has been Professor of Finance and Accounting at the Cranfield School of Management since 1972. He is the author of The Power to Destroy: A Study of the British Tax System;, and is chairman of the IEA's trustees. |
| |
| Abstract: | Major tax reform to simplify the UK tax system is possible. Merging income taxes, social security taxes and corporation tax into only a single flat-rate of tax on all incomes would be a radical start. Avoiding taxes on income and expenditure which are 'too high' requires major reductions in government spending, mainly on the welfare state. Given the political will, over a period of years we really can hugely improve the UK tax system. |
| |
| Keywords: | |
|
|
