Terry Arthur explains why the logic of stimulus is fundamentally flawed — government spending can never "prime the pump" of an economy in recession.Read more...
Dr Eamonn Butler argues that the crisis was not caused by a "failure of capitalism" and points out that market economies will flourish if politicians and regulators act responsibly.
The humble bus is still responsible for more passenger journeys than any other form of public transport, but years of state control and neglect led to people abandoning it by the carriageload.
Bus services would be more efficient if local transport officials, who seem bent on reversing the deregulation of the last decade, just got out of the way and let private bus companies manage things more freely, an international expert on transport argues. A government so committed to competition should reject highly regulated European-style 'franchise' systems that prevail in London, the report maintains.
Note of a workshop in the House of Commons, Monday 10th July 2000
1. 'I see no reason why patients should have to be referred to and from hospital for services which could be provided in their local GP surgery. This is a win-win situation for everyone. GPs are keen to broaden the range of services they can offer, patients want quicker access and less hassle in getting the care they need while hospital clinics and consultants want to reduce waiting times for their specialist services.' (Alan Milburn, 23 June 2000)
“These modes of taxation, by stamp–duties and by duties upon registration, are of very modern invention. In the course of little more than a century, however, stamp–duties have, in Europe, become almost universal, and duties upon registration extremely common. There is no art which one government sooner learns of another, than that of draining money from the pockets of the people."
“All taxes upon the transference of property of every kind, so far as they diminish the capital value of that property, tend to diminish the funds destined for the maintenance of productive labour. They are all more or less unthrifty taxes that increase the revenue of the sovereign, which seldom maintains any but unproductive labourers; at the expense of the capital of the people, which maintains none but productive."
So wrote Adam Smith over 300 years ago. Still the problem persists today, and even though Nicholas Gibb wrote this report into Stamp Duty two decades ago it is still pertinent today. Quite simply it is a call for the abolition of Stamp Duty.
In this article Eamonn analyses Ed Miliband's speech to the CBI and argues that Ed's solutions to encouraging economic growth are very much along the same lines as Gordon Brown's. Eamonn proposes instead that in order to re-skill Britain we need politicians to let business people get on with the job of wealth-creation, whilst cutting the burden of regulation and taxation.
Former Education Department special adviser Stuart Sexton says that parents should be empowered to seek out the most appropriate school for their children, and schools should be incentivized to meet their demand. But how, when many people cannot afford to become active ‘customers' in the education market?
Give parents an Education Cheque to cover the cost of their children's education. Let them choose the school they want. Let schools strive to satisfy parents, as customers. And let them use the parents' education cheques however they want in running and developing their schools. In other words, let the funding for schools come bottom-up from parents, not top-down through layers of Whitehall and local government.
International evidence suggests clearly that increases in capital gains taxes above a very modest level result in decreases in revenue. Similarly, if capital gains tax rates are set above a relatively modest level, then their reduction will involve an increase in revenues. This paper uses new evidence from Ireland, Sweden and Switzerland combined with existing analysis from America, Australia and Britain to try and identify more precisely the revenue consequences of CGT increases in the UK. It looks at both revenue losses from capital gains tax and from other taxes.
Britain must get off the back foot in EU negotiations and positively advance its own vision of what the EU should be like. While other countries vigorously promote federalism, Britain is reduced to being a permanent critic - the Grumpy Old Man of Europe. Instead Britain should be linking with other countries to advance its vision of a common market, open trade, cost-consciousness, better decision-making, and deregulation. These goals would be as good for the whole of Europe as they would be for Britain. Instead of a fruitless debate about pulling out of the EU, we should be striving to end protectionism and make it a paragon of open markets, free trade, and efficient administration.