The unexpectedly high outturn of tax revenues in the UK in recent years has permitted drastic revision of borrowing and taxing plans. Such unexpectedly high outturns may result from either: ii) An unexpectedly fast growth in one or more of the tax bases or ii) An underestimation of the response...

Prior to this year's Budget, the almost universal expectation was that the Chancellor would not attempt to make any changes to the tax system. The possible exception to this appeared to be some moves to appear 'green', perhaps by using the tax system to discourage the use of motor vehicles,...

There are many areas of the tax system in which substantial concessions are made, or appear to be made, to certain forms of activity. Such concessions, or reliefs, can cost the government money in just the same way as direct public expenditure programmes. The recognition of this fact is...

For most of teh 1980s the focus of attention at Budget time has been on tax reform and micro-economic changes. By contrast most of the interest in the 1990 Budget was in its overall fiscal stance and its possible effect on the macro-economy. This was a natural reflection of the current state of...

A model of first price sealed bid auctions is developed where bidders meet repeatedly while independently drawing private valuations in each period.Attention is focused on symmetric collusive bidding equilibria when side-payments are not allowed.

This paper evaluates the relative impact of a range of health, economic and structural factors on the employment experience of older male workers in Britain in the 30 years since 1951. It is based on a cross-sectional analysis of data on age of workforce in 34 industrial sectors drawn from the...