Bold, liberal tax reforms for a stronger economy and fairer society

Bold, liberal tax reforms for a stronger economy and fairer society
Document type
Corlett, Adam
Date of publication
1 February 2015
Trends: economic, social and technology trends affecting business
Business and management
Material type

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We hear a lot about how government should spend (or not spend) our money, but far less about how that revenue could best be raised. Yet the design of the tax system – which collects over a third of GDP – shapes our economy and society. The UK’s taxes are in need of reform over the next decade and liberals – through our philosophy, policies and political influence – are best placed to deliver them.

This paper examines six of the most important challenges: simplifying income taxes; taxing investment returns intelligently; fixing corporate tax biases; reforming inheritance tax; taxing real estate; and making consumption taxes fair. The overarching theme is delivering a stronger economy and a fairer society. The proposals outlined in this paper can deliver both: a tax system for 2025 that is simpler, more efficient and pro-growth, but also more progressive, empowering and fair.

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