The direct tax structure of the UK has grown by continuous accretion since its principal elements were set out by Addington in 1803. The government has never undertaken a fundamental reappraisal of the basis of direct taxation: the Meade Report was an attempt to make up for this government...

Over the past five years, there have been widespread claims - not only that there is a ‘new economy’ but that a new economy requires new economics. This article reviews the claims of this kind which have been made in three principal areas - in the measurement of economic statistics...

In 2005 the world economy still developed strongly, but, with GDP growth of 41/2 percent, at a somewhat slower pace than in 2004. Developments still differed substantially among major regions. Whereas output continued to increase in a robust and strong manner in the US and it showed a clear...