This paper investigates the economic impact of the government’s proposed new UK R&D tax credit. We measure the benefit of the credit by the effect on value added in the short and long runs. This is simulated from existing econometric estimates of the tax-price elasticity of research and...

We analyse a puzzle in the UK corporation tax: by both historic and international standards, corporation tax revenues have been high while the statutory rate has been reduced. We consider explanations based on changes in the tax law and in economic factors. Changes in the tax law, such as...

The poor productivity performance of the UK and the EU when compared with the US has been a major driver of policy reforms over the past decade. This paper considers what the evidence suggests about why we have lagged behind the US, considering among other factors the importance of globalisation...