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NIESR says income tax rise would be the least damaging option for Reeves
An analysis by the National Institute of Economic and Social Research (NIESR) assessed the economic effects of raising income tax, corporation tax and value added tax (VAT). It found VAT would have the largest negative impact, reducing real personal disposable income (RPDI) by around 3% and real GDP by about 1% in the first year the tax is applied. A higher VAT rate would also push up inflation through higher shop prices. The scenarios assume the Government aims to raise net revenue of £30 billion (€35.1 billion) by 2029-30 to address a projected shortfall in public finances.
Raising corporation tax would have a smaller short-term effect but could hinder investment and long-term growth by reducing business investment. By contrast, hiking income tax would have the smallest effect, with GDP expected to fall by about 0.05% in the first year.
NIESR said the
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About TKO
TKO Radio Spain 91.9FM & 106.5FM – Your number 1 English language radio station on the Costa Blanca & Costa Calida
Welcome to TKO Radio Spain
We are TKO Radio Spain, your number one English language radio station on the Costa Blanca.
You can tune in on your radio on 91.9fm across the Costa Blanca, serving the whole area around Torrevieja, Quesada, La Marina, Guardamar and the Orihuela Costa. We also broadcast on 106.5fm to the Costa Calida.
You can also listen online right here with our online radio player, on your mobile, and even on your smart device, such as Alexa. You can find all the information about how to listen to TKO Radio Spain on our Listen Live page.
About TKO Radio Spain
TKO Radio is one of the longest established English radio stations in Spain, broadcasting on both FM and online, we offer a mix of music from across the decades, with the occasional new tune, whilst providing news and information from across the Costa Blanca & Costa Calida
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