The UK traditionally had one of the most centralised tax systems in the OECD, but the landscape is changing. Devolution to Scotland means its government will soon be in receipt of tax revenues equal to 50% of its budget. The Welsh government is actively discussing taxes on vacant land and a new social insurance system for social care services. Control of the corporation tax rate is within Northern Ireland's grasp. And city-regions in England are pushing for broader tax devolution - of property taxes and perhaps income tax - to sit alongside the beefed-up business rates retention system.
What are the benefits, costs and risks with tax devolution? What might it mean for different parts of the country with different sized tax bases? Are we setting ourselves up for a race to the bottom, taking money from public services already under strain? Or can tax devolution empower the UK's councils, regions and nations to boost local economies, find new ways to raise revenues, and re-invogorate local democracy?
The panel will consist of:
The debate will conclude by 20:00 and will be followed by a drinks reception. This event is free to attend but must be registered for via the CIOT website.
This is the thirteenth in a series of lectures and debates being organised by the CIOT and the IFS to promote debate among policy-makers, opinion-formers and the wider tax and economics communities on the future of the UK and international tax systems.
If you have any questions about this event, please contact Samantha Bromwich at email@example.com.