Budgets

Green Budget 2002

The Green Budget 2002 was edited by Andrew Dilnot, Carl Emmerson and Helen Simpson, and copy-edited by Judith Payne.

It was produced with support from the Nuffield Foundation and the ESRC-funded Centre for Fiscal Policy at IFS.

You can download the whole document [2140 KB] here. Individual chapters can be downloaded below, also as acrobat files.

Chapter 1: SUMMARY

Chapter 2: AN AUDIT OF THE PUBLIC FINANCES

2.1 Borrowing and the Chancellor's fiscal rules 2.2 Issues in planning public spending 2.3 Borrowing in 2001-02 2.4 Borrowing in 2002-03 2.5 Medium-term prospects 2.6 The Budget judgement

Chapter 3: IMPROVING PUBLIC SERVICES?

3.1 Issues for Spending Review 2002 3.2 Private involvement in public services 3.3 Conclusion

Chapter 4: OPTIONS FOR INCREASING TAX

4.1 The range of possible tax rises 4.2 VAT 4.3 Income tax 4.4 National Insurance 4.5 Conclusion

Chapter 5: PERSONAL TAX REFORMS

The Child Tax Credit and the Working Tax Credit 5.1 What are these credits? Why are they being introduced? 5.2 Issues for Budget 2002 (I): What will the credits cost and who will gain? 5.3 Issues for Budget 2002 (II): How will the credits work in practice? 5.4 Will the Inland Revenue manage to increase take-up of the new tax credits? 5.5 Tax credits and the public finances

Chapter 6: TAX POLICY AND COMPANIES

6.1 The R&D tax credit for larger firms 6.2A training tax credit? 6.3 Capital gains tax 6.4 Large business taxation

Chapter 7: ASSET-BASED WELFARE POLICY

7.1 The Saving Gateway 7.2 The Child Trust Fund 7.3 Conclusion

Chapter 8: MEASURING PUBLIC SERVICE EFFICIENCY

8.1 Efficiency measurement in the public sector 8.2 The economic arguments for and against a graduate tax 8.3 Graduates in the earnings distribution 8.4 The design of a graduate tax 8.5 The distributional impact of introducing a graduate tax 8.6 Conclusion

APPENDICES

Appendix A: Forecasting public finances Appendix B: Budgets since 1979 Appendix C: Government tax policy initiatives Appendix D: Headline tax and benefit rates and thresholds Appendix E: Tax revenues ready reckoner

© The Institute for Fiscal Studies, January 2002
ISBN 1-903274-24-9