The Family and Parenting Institute – a charity – today published a report which claims that families will be the hardest hit by the Coalitions tax and welfare reforms, based on analysis undertaken by the Institute for Fiscal Studies. According to its report, families will disproportionately “shoulder the burden of austerity” compared to those without …
Taxation
Fuel’s gold
Of all western nations, Britain has amongst the highest tax rate on petrol – around 4/5 of the price consumers face for a litre of petrol is tax. Fuel is probably one of the few products that households buy in regular quantities at regular intervals, so price fluctuations are likely to be immediately obvious on …
VAT is the problem?
Detail is gradually emerging on the sorts of economic measures the new coalition government are likely to pursue. David Cameron insisted on Ministerial pay restraint for the duration of the current Parliament, The Guardian today suggests child benefit for middle-class families will be cut, while a BBC survey of economists points to increasing VAT as …