Adam Smith Institute

Tax Freedom Day 2008

The UK's Tax Freedom Day will fall on June 2 in 2008. That means that average Brits are spending more than five months of the year working for the Chancellor, rather than working for themselves. Government spending is set to reach £600 billion – £10,000 for person in the UK, and twice as much as in 1997. If public spending had only grown in line with inflation since then, we could have abolished income tax, corporation tax, capital gains tax and inheritance tax by now, leaving the taxpayer £200 billion better off. When you factor in government borrowing the picture is even worse – Tax Freedom Day does not come until June 14. Click here to visit our Tax Freedom Day website.

Latest publications

Privatization – Reviving the Momentum calls for a new wave of privatizations which would net the exchequer more than £20bn and deliver significant operational benefits.The leading privatization candidates identified by the report include the Royal Mail, Channel 4, BBC Worldwide, Scottish Water, Northern Ireland Water, Glas Cymru, the National Air Traffic Control System, as well as government stakes in British Energy and the Nuclear industry.
The Waste of Nations advocates the full liberalization of the refuse collection sector and the introduction of pay-as-you-throw waste charges as the best way to encourage recycling and to boost profitable waste businesses. The report stresses that PAYT must not be used as a 'dustbin tax' and that its introduction must be accompanied by a corresponding fall in local taxes.
Unfair Trade argues that for all its good intentions, Fairtrade is not fair. While only 10 percent of the premium paid by consumers makes it to producers, Fairtrade can distort markets, hold back economic development, and entice people away from better alternatives, ultimately doing more harm than good. Only free trade can sustainably raise people out of poverty.
Working Welfare calls for a radical overhaul of the UK's benefits system, based on the successful US Reforms of the 1990s. All working age people not meeting national disability criteria would face "immediate work requirements" and the delivery of welfare would be devolved to independent/private organizations, paid according to results.
Open Access for UK Schools advocates radical reform of the British education system, based on the highly successful Swedish model. Parents should be able to send their children to any school of their choice – state, private or religious – and these schools would receive government funding on a per–pupil basis. The schools could not charge additional fees, and would have to accept pupils on a first-come-first-served basis.

A monument to Adam Smith

The Adam Smith Institute's project to erect a giant statue of Adam Smith in Edinburgh is nearing completion. It will be the first major public statue of Adam Smith in the world and represents a long overdue recognition of his achievements.

The statue will stand outside St Giles Cathedral on the High Street, known as the Royal Mile. From this commanding site, Adam will stare down the hill towards Holyrood and Scottish Parliament.

The Edinburgh Evening News recently carried a piece about the statue, including an interview with the Institute's Dr Eamonn Butler. If you're interesed in reading more about the project, click here to download a copy of our latest leaflet.

About our conference division

Through its conference division, the Adam Smith Institute has been highly successful in organising top-level international forums, conferences and workshops for senior executives and key decision-makers in business, government, industry and technology.

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About the ASI

The Adam Smith Institute is the UK's leading innovator of free-market economic and social policies. Politically independent and non-profit, the Institute promotes its ideas through reports, briefings, events, media appearances, and its website and blog. For further information, click here.

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