No Debt High Growth Low Tax

Although in Hong Kong this situation has developed almost by accident, Purves suggests that here lies a model for generating public revenue that could be adopted in other countries to allow a shift in taxation from production and ...

No Debt  High Growth  Low Tax

No Debt High Growth Low Tax

Governments around the world are wrestling with the problems of enormous debts, low growth, high unemployment and a gap between the demands of public expen-diture and what can be raised through taxation. This problem has been acute since the financial crisis, but has been a hallmark of western economies for decades.Only a few countries have been able to avoid this pattern, mostly those blessed with vast natural resources such as oil. However, there are two small islands with no natural resources which have also enjoyed high growth combined with low taxation: Hong Kong and Singapore. Nor do they have any public debts, in fact, on the contrary, they generally run a budget surplus, and investment income is a feature of their government revenue.Andrew Purves, who grew up on the island of Hong Kong, has gone beyond the conventional analysis of taxation, and asked what each jurisdiction has in common, to bring about this happy state of affairs.The result is quite surprising for two countries which sit at the top of the table for promoting free markets and other capitalist ideals of small government.All land in Hong Kong is owned by the government, who makes it available for use by lease in return for a Government Rent, while Singapore now controls over half of its land area, as well as significant stakes in its strategic industries, which deliver a steady stream of unconventional income. Although in Hong Kong this situation has developed almost by accident, Purves suggests that here lies a model for generating public revenue that could be adopted in other countries to allow a shift in taxation from production and consumption to the Economic Rent of land, as advocated by Adam Smith over two hundred years ago.As a businessman in London, Andrew Purves, is keenly aware of the damaging impact of current taxation on economic activity.

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No Debt, High Growth, Low Tax
Language: en
Pages: 112
Authors: Andrew Purves
Categories: Business & Economics
Type: BOOK - Published: 2015-10 - Publisher: Shepard-Walwyn (IPG)

Governments around the world are wrestling with the problems of enormous debts, low growth, high unemployment and a gap between the demands of public expen-diture and what can be raised through taxation. This problem has been acute since the financial crisis, but has been a hallmark of western economies for
The Property-Owning Democracy
Language: en
Pages:
Authors: Gavin Kerr
Categories: Business & Economics
Type: BOOK - Published: 2017-06-26 - Publisher: Taylor & Francis

The ideas of 'predistribution' and the property-owning democracy have recently emerged as the central features of the progressive social liberal response to the problems of poverty, unemployment, economic insecurity, burgeoning socio-economic inequality, and economic instability, none of which the more familiar institutions of welfare state capitalism seem able effectively to
Contemporary Issues in Heterodox Economics
Language: en
Pages: 310
Authors: Arturo Hermann, Simon Mouatt
Categories: Business & Economics
Type: BOOK - Published: 2020-10-07 - Publisher: Routledge

Heterodox economics can provide a more complete and robust explanation of economic realities than orthodox (or mainstream) economics. Contemporary Issues in Heterodox Economics: Implications for Theory and Policy Action argues that this greater explanatory power gives heterodox economics the ability to illuminate appropriate policy for the major crises of our
Financial Management: Theory & Practice (Book Only)
Language: en
Pages: 1200
Authors: Eugene F. Brigham, Michael C. Ehrhardt
Categories: Business & Economics
Type: BOOK - Published: 2013-02-01 - Publisher: Cengage Learning

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National Tax Journal
Language: en
Pages:
Authors: Eugene F. Brigham, Michael C. Ehrhardt
Categories: Taxation
Type: BOOK - Published: 1996 - Publisher:

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