De-taxing our Way out of the Crisis

Ronald Banks, Chairman of the Trustees of the Land Research Trust, explores the scope for reducing the tax burden on the British economy

The ‘credit crunch’ and global recession have such enormous implications that it is vital the correct policies are identified and adopted to prevent such episodes in the future. Although the present crisis seems agonizing now, the portents are for things to get worse before they get better. The general remedy is a reform of taxation. If the proposals outlined in this report had been implemented during the recession of 1992, the British economy would by now be larger by additional income of about £890bn, or £15,000 for every man, woman and child, and Britain would have avoided the financial crisis.