Only 2 European countries align income and capital gains taxes - Estonia, where the rate is 20% for both, and Hungary where the rate is 15% for both In all other European countries income tax is substantially higher. Unsurprising, as income and capital gains are not the same

Low-tax USA pulls further ahead of high-tax Britain. Interesting The Telegraph analysis of how the US economy is powering ahead of Britain's, which is weighed down by high taxes and excessive regulation. A summary thread:

Ireland's budget surplus will exceed £8.85bn this year, according to Irish Finance Minister Michael McGrath's spring economic forecast. The annual surplus is forecast to grow to £17.7bn by 2026. All because of an intelligent low-tax approach to corporation tax.

Tax and regulation are strangling the rental market by driving landlords away. 🏠 The more you tax something the less you get of it. That's as true of landlords and rental properties as it is of everything else. A short thread 🧵

Britain is losing a chunk of the upper end of its tax base. Movement out of the UK towards Portugal, Switzerland, Dubai, Singapore and the USA, etc.. We're in the top 10 for losing wealthy taxpayers. 300,000 people, the top 1% of taxpayers, pay 30% of income tax revenues.

Its February 2022, just ahead of the Australian elections. An opinion piece has been published warning that Labor Party leader Anthony Albanese wants to introduce an Inheritance Tax (IHT). The reaction to this might surprise you. 🧵

UK 10 year gilt yields shot up today and are now very close to the levels reached during the mini-budget saga last autumn. Back then the pro-tax lobby said it showed the markets don't like unfunded tax cuts. It seems that they don't like high tax, low growth policies either.

Taxes must be slashed if the City is to survive The former head of the London Stock Exchange Frenchman Olivier Rolet said the only way to stop the City’s decline was to cut taxes and axe red tape in a total “recalibration of the UK’s punitive fiscal and regulatory framework”.

Over 6 million savers will be taxed on their bank interest for the 1st time, because it will exceed the measly saving allowance. This despite deposit interest rates being well below the inflation rate So the State lets inflation get out of control then takes more of your money.

Rishi says tax cuts are irresponsible but the truth is that his tax hikes were irresponsible. Together with the Bank of England's incompetence in mishandling the money supply, they have hamstrung the economy. Supply-stimulating tax cuts are inherently anti-inflationary

22% of contractors will now only accept work from overseas because of HMRC's punitive IR35 regulations. What a terrible loss of talent to the British economy.

Theatres say ditch the tourist tax. Unlike other countries, Britain no longer allows tourists to reclaim VAT The Theatre magazine, the Stage, asks "didn’t they promise us that leaving the EU would allow Britain to become more, not less, competitive on the global stage?" 1/6

Starmer's confidence is misplaced. VAT for private schools would mean: - Over 90,000 forced into state schools at cost of c£5k per pupil - Reduction in jobs and savings from relieved pressure on state sector (total £4.4bn) - Net COST for government of £416m by the fifth year

How to replace inheritance tax revenue. A simple solution. The high tax lobby say we can't scrap the death tax because the revenue loss would be too great (£6-£7bn). Blomberg say that IHT revenue can be replaced by tax on savings interest, due to reach the same amount. 1/2

“We should be spending less and taxing less than we are at the moment” says Tony Blair Rishi’s government should listen and get spending and taxes back down to the levels they were at when Tony Blair left office.

The mad campaign to extract every last penny of tax is now being extended to private pension savings. Today if someone dies before 75 their pension is exempt from both inheritance tax and income tax. The Government now proposes to scrap the exemption from income tax. 1/3

Gordon Brown though it would be clever to bribe taxpayers with their own money by spending £2bn on 'child trust funds.' He foolishly asked HMRC to implement the scheme. It's 12 years after the scheme ended and it turns out HMRC lost £1.7bn of the money. Appalling incompetence.

Miliband proposes increasing the 75% tax to 78% when in the North Sea: -Harbour Energy has ruled out new exploration -TotalEnergies is cutting investment by 1/4 -Apache is halting all drilling -Shell says it may move to the US Does he think this will increase tax revenue?

A CGT rise will decimate investment, new research shows Labour has refused to say that it won't increase capital gains tax (CGT) & the Conservatives have flirted with the idea. Politicians want to increase investment into SMEs but a CGT rise would have the opposite effect 1/3

Anti-tax Libertarian presidential candidate (and former rock singer) Javier Milei is popular in Argentina. Why? Politicians are impoverishing Argentines with inflation (at circa 15% per month) and tax Detailed below are some ways the Argentine state is ruining lives. Thread