The direct tax structure of the UK has grown by continuous accretion since its principal elements were set out by Addington in 1803.

In the earlier article (Kay and Morris, 1979), we examined the effects of the 1979 budget on distribution and incentives by looking at the tax system as a whole in terms of a 'tax credit' and a marginal tax rate.

A distinctive freature of the British tax system is the very wide range of incomes which is subject to tax at the basic rate.

This paper argues that the UK financial year (FY) should be moved from April-April to coincide with the calendar year (CY).

The growth of North Sea oil revenues is the most important fiscal development in the British economy in teh 1980s.

Professor Townsend's monumental study of poverty in the United Kingdom has been long awaited. It is based on a specially commissioned household survey and the results are meticulously documented.

Some recent attention has been given to the so called 'Laffer Curve'.

Since coming to office the present government has been involved in implementing its economic philosophy, which sees the future growth and development of the UK economy dependent upon the elimination of inflation, the re-establishment of economic incentives, the return of many activities to the market place and a reduction in the public sector's involvement in economic and social affairs.

The main purpose of CTT is the equitable one of continuing the slow process of reducing the inequality of wealth.