In special Insights In Focus episode for ICAEW, I and fellow panellists discuss the changes to tax architecture and design that may strengthen the UK’s national bargain as economic turbulence continues.
The national bargain – the broad agreement that taxation is a fair exchange for the provision of public services – has fluctuated over time. Most recently, polling by YouGov found the prevailing attitude among the British public is one of fiscal tightening. However, following unprecedented financial support during the pandemic and cost-of-living crisis, the tax burden is set to continue rising until 2027/28.
That leaves the government with a difficult conundrum: how can it meet people’s expectations around fiscal policy while paying down its debt at a time of slow economic growth?
To explore the best use of tax architecture and design, host Bronwen Maddox is joined by Bill Dodwell, Tax Director at the Office of Tax Simplification; Helen Miller, Deputy Director at the Institute for Fiscal Studies; and Martin Wheatcroft, ICAEW adviser and Fellow.
Click here for links to the podcast or to read the full transcript.