In response to recent economic and financial difficulties, governments across Europe and beyond have implemented a range of cost-cutting and income-generating programmes in order to re-balance their fiscal budgets following substantial investments in stabilising domestic financial institutions in 2008 and 2009. One approach has been to increase tax rates such as the increase in Value Added Tax (VAT) in the United Kingdom (UK) from 17.5% to 20% from 1 January 2011. This Chapter investigates the economic effect in small areas.
|Title of host publication||New Pathways in Microsimulation Modelling|
|Editors||Gijs Dekkers, KU Leuven, Marcia Keegan, Cathal O’Donoghue|
|Place of Publication||Farnham|
|Publication status||Published - Feb 2014|
- austerity measures
- united kingdom