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Mirrlees review
An Institute for Fiscal Studies review, 'Reforming the Tax System for the 21st Century', is bringing together leading experts in tax and public economics from around the world to identify what makes a good tax system in the 21st century. Led by Professor Sir James Mirrlees, joint winner of the Nobel Prize for Economics in 1996, the idea is to come up with specific proposals for the reform of the British tax system.
Mirrlees review
An Institute for Fiscal Studies review, 'Reforming the Tax System for the 21st Century', is bringing together leading experts in tax and public economics from around the world to identify what makes a good tax system in the 21st century. Led by Professor Sir James Mirrlees, joint winner of the Nobel Prize for Economics in 1996, the idea is to come up with specific proposals for the reform of the British tax system.
Over the next 18 months, teams of experts will examine several key issues in tax design, including: the taxation of incomes, expenditure and saving; personal tax rates; VAT; environmental taxes; business taxation; compliance and administration; the impact of globalisation; the current state of the UK tax system; and the political economy of tax reform. There will also be specific studies of small business taxation, and the responsiveness of labour supply and human capital and savings and consumption to the design of the tax system.
Lessons from these various studies will then be distilled into a final overview report comprising lessons for tax design in any modern, developed economy, plus specific proposals for tax reform in the UK.
The project has been inspired by the approaching 30th anniversary of the 1978 Meade Report, a landmark in the study of tax design and perhaps the most influential output of the IFS to date: www.ifs.org.uk/docs/meade.pdf. Thirty years after the Meade Report, the time is ripe to take a serious holistic look at the tax system again
Over the next few weeks, draft reports by the Mirrlees project teams will be posted on the website. Comments on these papers or on any of the issues to be covered by the review are welcome and can be e-mailed to the review teams at mirrlees_review@ifs.org.uk.
The final report of the Review is likely to be published in the spring of 2008.
More detail on the scope of these projects can be found on the Mirrlees Review website: www.ifs.org.uk/mirrleesreview.
