The UK's right-wing Adam Smith Institute last week published a new report, Simpler Taxes, by author Jacob Braestrup, which attracted massive newspaper and radio attention.
The report is an indictment of the nation's tax system, which Mr Braestrup says imposes huge costs upon the economy. If taxes were overt, people would see the huge gap between what they are paying and the services they receive in return. Exploring how globalization and the Internet are making it ever more difficult to levy traditional taxation, Braestrup concludes that governments must, in effect, compete for the loyalty of their citizens with attractive tax regimes.
His proposal for Britain is that complex and obscure taxes should be replaced by visible ones which are easy to understand, and whose rates are lower.
The Adam Smith Institute site is at www.adamsmith.org.uk.
See the full report in Tax-news.com's Resources section
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