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Amidst the debates about ‘austerity’ a number of vital debates in public finance have been sidelined. Because the reductions in government spending – small though they have been so far- have been designed to reduce the government’s borrowing requirement, there has been little discussion of whether the size of the state should be reduced in order to facilitate long-run reductions in the burden of taxation. This book traces the history of the growth of the size of the state over the last 100 years whilst also making international comparisons. There is a particular focus on recent and projected future developments which shows that, though the total level of government spending has not decreased significantly in recent years, there has been a big redirection of spending from some areas to others. The authors then examine the evidence on the relationship between taxation and economic growth. As well as reviewing recent literature, they also undertake new modelling that higher taxes are detrimental for growth. In the final part of the book, the whole UK tax system is reconsidered in a proper economic framework. The UK has one of the world’s most complex tax systems and its incoherence has increased over the last five years. Sweeping reforms are proposed to the system which wold involve abolishing around 20 taxes and the development of a simple, predictable tax system based on principles that should gain wide acceptance.
Book Synopsis Taxation, Government Spending and Economic Growth by : Philip Booth
Download or read book Taxation, Government Spending and Economic Growth written by Philip Booth and published by London Publishing Partnership. This book was released on 2016-11-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amidst the debates about ‘austerity’ a number of vital debates in public finance have been sidelined. Because the reductions in government spending – small though they have been so far- have been designed to reduce the government’s borrowing requirement, there has been little discussion of whether the size of the state should be reduced in order to facilitate long-run reductions in the burden of taxation. This book traces the history of the growth of the size of the state over the last 100 years whilst also making international comparisons. There is a particular focus on recent and projected future developments which shows that, though the total level of government spending has not decreased significantly in recent years, there has been a big redirection of spending from some areas to others. The authors then examine the evidence on the relationship between taxation and economic growth. As well as reviewing recent literature, they also undertake new modelling that higher taxes are detrimental for growth. In the final part of the book, the whole UK tax system is reconsidered in a proper economic framework. The UK has one of the world’s most complex tax systems and its incoherence has increased over the last five years. Sweeping reforms are proposed to the system which wold involve abolishing around 20 taxes and the development of a simple, predictable tax system based on principles that should gain wide acceptance.
This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth-enhancing effects of investment in public capital and transfer payments are modeled, as is the growth-inhibiting influence of the levying of distortionary taxes which are used to fund such expenditure. The theoretical implications of the model are then tested with data from 23 developed countries between 1971 and 1988, and time series cross sectional results are obtained which support the proposed influence of the public finance variables on economic growth.
Book Synopsis Government Spending, Taxes, and Economic Growth by : Mr.Paul Cashin
Download or read book Government Spending, Taxes, and Economic Growth written by Mr.Paul Cashin and published by International Monetary Fund. This book was released on 1994-08-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth-enhancing effects of investment in public capital and transfer payments are modeled, as is the growth-inhibiting influence of the levying of distortionary taxes which are used to fund such expenditure. The theoretical implications of the model are then tested with data from 23 developed countries between 1971 and 1988, and time series cross sectional results are obtained which support the proposed influence of the public finance variables on economic growth.
This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Book Synopsis Expansionary Austerity New International Evidence by : Mr.Daniel Leigh
Download or read book Expansionary Austerity New International Evidence written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Book Synopsis Economic Growth, Taxes, and Government Spending by :
Download or read book Economic Growth, Taxes, and Government Spending written by and published by . This book was released on 1993 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fiscal Policy Implications of the Economic Outlook and Budget Developments by : United States. Congress Economic Joint Committee
Download or read book Fiscal Policy Implications of the Economic Outlook and Budget Developments written by United States. Congress Economic Joint Committee and published by . This book was released on 1957 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Compendium of Studies on the Optimal Size of Government and Related Budget Issues by :
Download or read book Compendium of Studies on the Optimal Size of Government and Related Budget Issues written by and published by . This book was released on 1999 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Federal Expenditure Policy for Economic Growth and Stability by : United States. Congress. Joint Economic Committee
Download or read book Federal Expenditure Policy for Economic Growth and Stability written by United States. Congress. Joint Economic Committee and published by . This book was released on 1958 with total page 686 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Growth Through Tax Cuts, What's the Best Approach? by : United States. Congress. Joint Economic Committee
Download or read book Economic Growth Through Tax Cuts, What's the Best Approach? written by United States. Congress. Joint Economic Committee and published by . This book was released on 1999 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Tax Expenditures--shedding Light on Government Spending Through the Tax System by : Hana Polackova Brixi
Download or read book Tax Expenditures--shedding Light on Government Spending Through the Tax System written by Hana Polackova Brixi and published by World Bank Publications. This book was released on 2004 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Impact of Government Spending by : Richard K. Vedder
Download or read book Economic Impact of Government Spending written by Richard K. Vedder and published by . This book was released on 1993 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: