Our sister organisation, the Tax Justice Network, has blogged recently about the series of events marking the tenth anniversary of the financial crash which will focus on what we’ve learnt (and not learnt) and how we can reform our economies. We share below a press release from Promoting Economic Pluralism which is coordinating a programme of events in which Tax Justice UK and the Tax Justice Network are participating. Before that though, we’d like to share with you two of our events on September 14th 2017. If you’re in or able to get to London, please register to reserve your place or buy your tickets quickly. If you’re elsewhere in the UK or overseas, we’re working on recording the discussion panels and making them available to you online.
Today saw the publication of the 34th British Social Attitudes survey. It found that 48% of Britons want the government to raise taxes and increase spending on health, education and social benefits (compared to 44% who want taxes to stay at the same level, and just 4% who want to see them cut). This is the first time since the financial crisis that more people want to see tax rises than taxes staying the same, and reflects a growing public mood in favour of better public services and redistribution of income, and against continued austerity. The same proportion - 48% - think it is wrong to use legal loopholes to avoid paying tax. On the same day, the Government's Social Mobility Commission has published a report (Time for Change) showing that 20 years of attempts to improve social mobility have failed to halt the increasing levels of inequality in our divided country. Taken together, it seems that the public mood is changing, fast.
NOTE: this guest post was originally published by the Tax Justice Network.
The minority UK government elected last week is scrambling to agree a ‘confidence and supply’ agreement with a tiny party from Northern Ireland called the DUP (originally the Democratic Unionist Party). The DUP has attracted considerable attention in the past 24 hours because of its Protestant fundamentalist religious values and general social conservatism. TJN would like to point out the DUP’s commitment to tax havenry, and in particular its policy of competing with other countries within the United Kingdom in a race-to-the-bottom on the corporate income tax rate. For many years the DUP has persisted with demanding devolution of power to set a corporate income tax rate from Whitehall to Belfast, and is committed to lowering the corporate income tax rate to 12.5 percent, matching the rate in the Irish republic.
Tax Justice UK, the newly launched sister organisation to the Tax Justice Network, releases today its detailed analysis of the general election manifestos of the main political parties, assessing how far they advance, or reverse, an agenda that is compatible with the pursuit of tax justice principles and the public interest. It finds that none of the parties will admit that, ten years after the financial crisis, the British economy is being run in the interests of a small financial elite based in the City of London, to the detriment of the rest of the British population and of many other people across the world.