The article discusses economist and Harvard University faculty member Kenneth Rogoff's claim that if nations such as the U.S. and Great Britain scrapped their physical forms of currency it would help the governments collect additional taxes, fight crime, and develop more efficient monetary policies. Computer software company Apple Inc.'s "contactless payment" system is mentioned, along with cash and the amount of paper monetary notes and coins in circulation. The World Bank is examined.
The article focuses on a paper by Jonathan Chapman to be presented at the 2019 conference of Economic History Society which examined the relationship between inequality and the generosity of welfare spending in Victorian England. Topics covered include comparison of the generosity and harshness of the conditions of poor-law relief, influence of the degree of inequality within the upper classes on rules for welfare handouts and outlook of the upper middle class on Britain's inheritance tax.
Public opinion of British prime minister David Cameron is discussed in light of the Panama Papers leak of information regarding the investment and holding of assets in offshore tax havens by Cameron, his father's Blairmore trust, and other politicians and officials. Criticism of the publication of tax returns by Cameron, Leader of the Opposition Jeremy Corbyn, and mayor of London Boris Johnson is offered and inequality in British society is described.
*INHERITANCE & transfer tax, *ESTATES (Law), *FINANCE
Abstract
The article focuses on the leaked "Paradise Papers" that revealed the millions of investments in Cayman Islands fund made by the Duchy of Lancaster private estate of Great Britain's Queen Elizabeth and her payment of tax more than the legally required.
The article discusses the Great Britain's Budget plan by Philip Hammond, Chancellor of the Exchequer. It mentions Hammond's announcement to manage gig economy and higher taxes for self-employed people, where the chancellor raises their national insurance contributions (NICs). Policy reviews under the Prime Minister of Great Britain Theresa May are stated, which is still unclear, like a long-delayed white paper on the chronic shortage of housing and failure of endorsing ideas for housebuilding.
Published
2017
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