Tax Reform

Michael Keen

Oxford Review of Economic Policy, 1991, vol. 7, issue 3, 50-67

Abstract: This paper surveys and assesses British tax reform in the 1980s. On those aspects of efficiency that economists can best measure, the gains seem likely to have been worthwhile but modest. The distributional effects look strikingly small except at the top of the income distribution, where the gains are substantial. Lower inflation and statutory rate reductions have eased the tensions in the taxation of capital income, but reform has not established coherence: it has not been a victory for the comprehensive income tax, moves in this direction having been accompanied by moves toward expenditure taxation through both a shift toward indirect taxation and the introduction of new privileges in the taxation of savings. Copyright 1991 by Oxford University Press.

Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:oup:oxford:v:7:y:1991:i:3:p:50-67

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