The tax and price index

David N.F. Bell, Gary Emmett, Neil Fraser, Anne Jowett, Frank X. Kirwan, James W. McGilvray, Iain H. McNicoll, Lyle Moar, Ian Orton, David R. F. Simpson, A. A. Wingfield, David N.F. Bell (Editor)

    Research output: Contribution to journalArticle

    Abstract

    A feature of this year's Budget was the shift in emphasis from direct taxation to
    indirect taxation. The annual yield of income tax has been reduced by £4½ billion
    while that of direct taxes was increased by a similar amount. It must be acknowledged that the new tax and price index has a number of deficiencies. It is only applicable to a proportion of the population, namely those who pay tax and whose gross income is less than £10,000 per annum. It takes no account of the social wage, nor of changes in benefits, such as the recent restructuring of child allowance. It smoothes out tax payments over a full year even though, for administrative reasons, these may fluctuate widely from month to month. This brief paper explores some of these deficiencies in more detail and assess their impact on taxation.
    LanguageEnglish
    Pages29-30
    Number of pages2
    JournalQuarterly Economic Commentary
    Volume5
    Issue number2
    Publication statusPublished - Oct 1979

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    price index
    taxation
    taxes
    direct taxes
    income tax
    wage
    restructuring
    budget
    income
    Price index
    Tax
    Taxation

    Keywords

    • tax and price index (TPI)
    • retail price index (RPI)
    • direct taxation
    • indirect taxation
    • tax liabilities

    Cite this

    Bell, D. N. F., Emmett, G., Fraser, N., Jowett, A., Kirwan, F. X., McGilvray, J. W., ... Bell, D. N. F. (Ed.) (1979). The tax and price index. Quarterly Economic Commentary, 5(2), 29-30.
    Bell, David N.F. ; Emmett, Gary ; Fraser, Neil ; Jowett, Anne ; Kirwan, Frank X. ; McGilvray, James W. ; McNicoll, Iain H. ; Moar, Lyle ; Orton, Ian ; Simpson, David R. F. ; Wingfield, A. A. ; Bell, David N.F. (Editor). / The tax and price index. In: Quarterly Economic Commentary. 1979 ; Vol. 5, No. 2. pp. 29-30.
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    Bell, DNF, Emmett, G, Fraser, N, Jowett, A, Kirwan, FX, McGilvray, JW, McNicoll, IH, Moar, L, Orton, I, Simpson, DRF, Wingfield, AA & Bell, DNF (ed.) 1979, 'The tax and price index' Quarterly Economic Commentary, vol. 5, no. 2, pp. 29-30.

    The tax and price index. / Bell, David N.F.; Emmett, Gary; Fraser, Neil; Jowett, Anne; Kirwan, Frank X.; McGilvray, James W.; McNicoll, Iain H.; Moar, Lyle; Orton, Ian; Simpson, David R. F.; Wingfield, A. A.; Bell, David N.F. (Editor).

    In: Quarterly Economic Commentary, Vol. 5, No. 2, 10.1979, p. 29-30.

    Research output: Contribution to journalArticle

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    Bell DNF, Emmett G, Fraser N, Jowett A, Kirwan FX, McGilvray JW et al. The tax and price index. Quarterly Economic Commentary. 1979 Oct;5(2):29-30.