Why taxing consumption makes sense in the age of technology

Article Abstract:

It is likely that there will be a number of key trends which will have a dramatic impact on tax policy in the UK, according to Mervyn King, chief economist at the Bank of England. These will include the need for taxes to shift from income to consumption, and the fact that information technology will make it harder to assess what taxes should be paid. It is likely that government will have to become closely involved in the regulation of information technology if they are to maintain a broad tax base.

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Clarke hoses down hopes of tax and interest rate cuts

Article Abstract:

Chancellor Kenneth Clarke has emphasised his confidence in the state of the UK's economy, stating that the slowdown in the economy should not necessarily be seen negatively. This has been interpreted as an indication that the Nov 1995 Budget may not bring tax and interest rate cuts. It is likely that tax cuts will not be introduced until the government is convinced that inflation is under control.

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Relaxed Clarke on course for tax cut

Article Abstract:

City of London traders are predicting that chancellor Kenneth Clarke will make extensive tax reductions before the next general election. The government has deliberately been diverting attention from this issue, avoiding raising hopes too much, and the chancellor has stated that taxes will only be lowered when this can be afforded. However, it is unlikely that he will now wait that long.

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