The effects on consumption and saving of taxing asset returns

AUTHORS: Orazio Attanasio ; Matthew Wakefield

The aim of this study is to review what we know about how responsive consumption and saving choices are to tax incentives and in particular to interest rate changes. The issues of whether, and how much we should tax the return to saving, and whether this taxation should be uniform across assets, has been a topic of debate for both academics and policy-makers. The material that we review provides a useful input to this debate since it describes the likely consequences of policies that affect asset returns.

Related papers and presentations

PLEASE NOTE: presentations from the September meeting represent draft work in progress. Factual accuracy is not guaranteed, and opinions may not be the fully-formed views of authors. They are posted here to stimulate discussion, and should not be quoted or cited without the authors' permission.

How much do we tax the return to saving?
Matthew Wakefield
This Briefing Note provides a description of how the UK tax system treats the return to saving.
27 Mar 2009 , IFS Briefing Notes ,  BN82

A review of the effects of taxes on consumption and saving
Orazio Attanasio and Matthew Wakefield
This draft paper forms part of the Mirrlees Review and was presented at the IFS Residential Conference 2007.
24 Apr 2007 , Conference Papers

Intertemporal taxes, consumption and savings
Orazio Attanasio and Matthew Wakefield
26 Oct 2006 , Presentations

The Review is funded by the Nuffield Foundation and the ESRC.