The Reform of Local Taxation in the United Kingdom in the Light of The Balance of Funding Review Report
AbstractCurrently, local authorities in the UK raise only about a quarter of their revenues from taxes under their control. The Balance of Funding Review Report considered whether this proportion should be increased, and if so, how. This paper considers the report and possible reforms. Reasons why the balance of funding is a problem are discussed. However, there are problems with the current system apart from the balance of funding, and to solve some of these a closer link between council tax bills and property values is suggested. Whether a local income tax should be introduced as a supplement to a reformed council tax, and other possible reforms, are also discussed.
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Bibliographic InfoPaper provided by Department of Economics, University of Birmingham in its series Discussion Papers with number 05-03.
Length: 23 pages
Date of creation: Jan 2005
Date of revision:
Balance of funding; property tax; business rates; local income tax;
This paper has been announced in the following NEP Reports:
- NEP-ACC-2005-07-25 (Accounting & Auditing)
- NEP-ALL-2005-07-25 (All new papers)
- NEP-EEC-2005-07-25 (European Economics)
- NEP-FMK-2005-07-25 (Financial Markets)
- NEP-PBE-2005-07-25 (Public Economics)
- NEP-URE-2005-07-25 (Urban & Real Estate Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Richard Miller Bird, 1999. "Rethinking Subnational Taxes - A New Look at Tax Assignment," IMF Working Papers 99/165, International Monetary Fund.
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