Small Budget here, great debate elsewhere

Article Abstract:

The forthcoming Budget is certainly of political importance for the Conservative party, and will give an indication of how the party is likely to approach the next general election. However, there are changes taking place in other parts of the world which will have a much more direct impact on the future prosperity of ordinary people in the UK. On a long-term basis, the government's tax and spending plans will be most closely determined by developments in the US, especially the balanced budget, and in East Asia, where there is great speculation about the appropriate size of government itself.

International aspects, Budget, Budgeting, Budgets, Political aspects, Economic development

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Tax on the rich that delivers few votes and less revenue

Article Abstract:

It now seems likely that shadow chancellor Gordon Brown will not be permitted by Labour party leader Tony Blair to pursue plans to increase the top rate of tax from 40% to 50% for people earning more than 100,000 pounds sterling. This is partly because such a policy would give a negative impression of the Labour party's approach to taxation, and partly because introducing a higher rate of tax could actually reduce tax revenue, rather than increase it. Some high earners would be prompted to emigrate, while others would find loopholes to avoid paying the highest rate of tax.

Labour Party (United Kingdom), Tax policy

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