A rotten windfall: taxation

Article Abstract:

Great Britain's Labor Party proposed a windfall tax in 1992, but chancellor Kenneth Clarke ultimately rejected it. He is considering a similar proposal now that will adversely affect private utilities, but the extent to which they will be affected is unknown. It would reduce business incentives.

Analysis, Taxation, Excess profits tax

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Snookered

Article Abstract:

The Institute for Fiscal Studies reports that reducing the uniform business rate would help the British economy more than personal-tax cuts. There is doubt as to whether the Conservative Party or the Labor Party can deliver an effective fiscal policy.

Conservative Party (United Kingdom)

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No Ken do: Britain's chancellor of the exchequer, Kenneth Clarke, must resist calls from Tory backbenchers to deliver dramatic cuts in taxes

Article Abstract:

Despite meager .4% first quarter GDP growth, the UK economy could be in a boom by election time in Nov. 1996, making such a politically inspired tax cut inflationary. Clarke must persist in his prudence and hope for an economic upturn this summer.

Public Finance Activities, Fiscal Policy, Editorial

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