Before joining the European Commmunity, Britain supported its farmers by a system of 'deficiency payments'. This involved direct payments from the government to bolster farmers' incomes. However most European countries used a different method, and it is this that became the Common Agricultural...

After the 1979 budget, in which the Chancellor reduced income tax but increased VAT to 15 per cent, we presented (Kay and Morris (1979)) a simple framework to describe the UK tax system. This shows that, for the majority of taxpayers, the whole tax system which comprises income tax, National...

Recent UK economic history has been characterised by high levels of unemployment, coupled with a high nominal Public Sector Borrowing Requirement (PSBR). It is no surprise that the two should coexist, and their inter-relationship is increasingly recognised. At least part of the current high...

While distributional considerations are paramount in the design of personal taxation, they are virtually absent from discussions about company taxation. Few financial journalists have made their careers from articles analysing the implications of the Budget for 'a typical 100-man firm in...