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Adrenalin Now

Image of report coverAdrenalin Now – targeted, popular tax cuts to boost the economy

Given the fragile state of the UK economy, funded tax cuts and deregulation are urgently required to kick-start the economy writes Ryan Bourne in Adrenalin Now – Funded, popular tax cuts to boost the economy, published by the Centre for Policy Studies on Thursday 13 October 2011.

In the report, Bourne:

  • notes that if growth is half that forecast by the OBR across this Parliament, the deficit will still be 9% of GDP by 2015
  • proposes £14 billion of savings from abolishing the differential rates of pension tax relief for higher rate payers, abolishing contracting out of S2P, cutting international aid to 2010/11 spending and ending the 25% tax-free lump sum entitlement from pensions.
  • recommends abolition of the 50p tax rate, and swift cuts to corporation tax, employer NICs and a £500 increase in the personal allowance above the Government’s proposed plans.

Polling undertaken for this report by ComRes shows support for many of these policies. While a majority oppose the abolition of the 50p tax band, when it is accompanied by an increase in the personal allowance, more people than not actually support the proposal.
The full pamphlet and polling results can be downloaded from here and here
Media Impact:

Telegraph  - (front page of the business section)


 Other media

Ryan Bourne - Thursday 13th October 2011

Ryan joined the Centre for Policy Studies in January 2011, having previously worked for a year at the economic consultancy firm Frontier Economics.