The Great Debate UK
-Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -
It really is hard to resist the temptation to take a hopeful view of Britain’s new government.
I say this not because I am a fan of coalitions. They are an unfortunate necessity, something to be avoided at all cost in normal times – but these are not normal times.
In fiscal terms, we face a wartime situation, and the fact that there are no enemy aircraft overhead just makes it all the harder to get people to accept the need for austerity.
The cost of tax collection in the UK is almost 20 billion pounds per annum, according to a recent report from Britain’s Institute of Economic Affairs, a free-market lobby group.
The amount reflects the cost of compliance and administration as well as Britain’s handicap of having the longest tax code in the developed world, co-authors Francis Chittenden, Hilary Foster and Brian Sloan write in “Taxation and Red Tape”.
- Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -
There is so much talk of a new regulatory framework for the financial sector, anyone would think it was an important issue.
- Richard Wellings is Deputy Editorial Director at the Institute of Economic Affairs. The opinions expressed are his own.-
Argentina should be an object lesson for the U.S.
A century ago, it was one of the richest countries in the world. Today, it has fallen far behind Europe and North America, after a hundred years marked by long periods of recession.
-Richard Wellings is deputy editorial director at the Institute of Economic Affairs and editor of the IEA blog. The opinions expressed are his own.-
If the Conservatives are elected, as the polls currently predict, they will have to tackle the worst fiscal crisis in peacetime history.
In “Verdict on the Crash” we argue that government failure and not market failure is responsible for the collapse in financial markets.