Is now the time to raise taxes? Probably not - the economy is still weak and the recovery only just starting. But that time will likely come. Even before COVID-19 there were pressures for higher UK taxes to deal with the public finance pressures of an aging society. And there are parts of the tax system where some taxpayers seem to be treated more generously than others. Now there will also likely be demands for a larger state that provides more services and a role for tax in managing down the elevated public debt and any enduring increase in the budget deficit.
What should the government do? Is there a right time to raise tax? Which taxes offer the best potential for revenue raising without choking off economic growth? Should the government simply raise rates or should they be looking at major structural reforms to the tax system? Should Labour be setting out a radical tax agenda or waiting to see what the Chancellor announces? Where does public opinion stand on tax rises?
Shadow Chancellor Anneliese Dodds will be joined by Glyn Fullelove (President, Chartered Institute of Taxation), Helen Miller (Deputy Director, IFS), and Deborah Mattinson (Founding Partner, BritainThinks) to explore these and other questions in this highly topical debate at the Labour Party Conference. This event will be chaired by Simon Gompertz (former Personal Finance Correspondent at the BBC).
This event will be held online and will be free to watch. Register to watch by clicking here.