How can the labor balance without more damage

Welcome back. This week, as promised, I return to England and its assembly financial problems.

Capital economy, British Chancellor Rachel Reeves may need to increase the upcoming fall budget to £ 24 billion, up to £ 24 billion to balance current expenditures to 2029/30.

This indicator includes 6 billion pounds and potential discounts of about 6 billion pounds in the latest U-Turns deposits with plans to reduce prosperity payments and potential discounts of productivity and immigration forecasts.

Edition on June 29 This bulletinFive Cheap Precious Policy Lols will increase a leap to convey to close-term economic activity and increase tax revenues.

However, the size of the government’s financial hole – and the volume of debt costs – the volume of expenses – the expenditure of chancellor and it is likely to increase taxes.

In the first budget of the measurement autumn, employers, investors and wealthy targeted with a higher tax. Since then, employment has fallen, investing and actively looking for Uber’s Riches to move abroad.

It is a source of loading the cohort, income and growth. Savior taxes are not able to cancel the final speculation of recent assumptions. The performance of higher taxes is enough for confidence in business activities and investor confidence.

Thus, I asked the government how the government could increase the funds when the government could increase the government’s growth and political support.

Behold, starting from some suggestions that can combine the near-term financial hole to be expedient:

Stretch the pig up to personal tax limits

“By freezing all the tax limits to 2029/30, freezing the entire tax limits to 2029/30, add about $ 7 billion in annual tax revenues,” said the British economist in Deutsche Bank Sanjay Raja.

Lift the gambling

Executive Director of the State Policy Research Institute Harry Quilter-Pinner recommends betting and removing taxes to bets.

“Britain’s remote game is a tax in online casino profit – only 21 percent. This is lower than many other countries,” he says. “Online bets, nests and casinos and casinos and casinos and” machine-game duty “also make sense to apply between the person’s slot machines” machine game “.”

It estimates that these tax rates increase to 41 percent, which can increase the year to £ 2.4 billion a year.

Reduce VAT freedoms

Jon Moynihan proved that conservative life peers, tax rises in recent years, significantly increasing and increasing risks in recent years. He said that if the government wants to simplify and expand and expand the complex VAT system of the UK, with numerous provocative liberties – then quickly earned income.

“We collect VAT in a minority of products. If we approach the average level of OECD, we can lower the current 20 percent of the current 20 percent, and we can increase the 17.5 billion pounds a year,” he said.

The proposal to facilitate the relaxing relief of Moynihah’s VAT tax base, may allow Reeves to claim that he does not violate VAT.

The government can also consider the reduction of VAT turnover of £ 90,000. This is higher than the most advanced economy and there is an argument to limit the size of some enterprises not to exceed the limit. Reduction can increase income and support growth.

These measures will only cover the most expected shortcomings of the Chancellor in the main financial order.

The following suggestions (both political and practical) are a few more attractive suggestions that can save above and nearby and nearby needs. After all, it is important to improve the great state finance as the requirements of the state increased, and they can also help the premium investors demand lending to the UK.

Retire the ‘Triple Lock’ to Pensions

The highest earnings of state pensions guaranteed by the UK’s “triple lock” are increased by CPI inflation or 2.5 percent. This was carried out in April 2012. Labor promised to be kept.

A system that follows earnings growth over a long period of time would be more financially resistant. This would eventually be fairer for employees who finance state pensions.

The Institute of Fiscal Studies assesses additional costs in connection with the lock three times in 2050, and in today’s terms may be up to £ 40 billion.

In the near future, using OBR data, calculations that change the IFS with a profit accuracy can save up to £ 2029/30 in today’s terms.

Long-term welfare reform

“A strong job for correcting personal independence payments (PIP),” says Mike Berci, Deputy CEO of the CEO. “The system does not work either for bidders or public finances.”

Pip is paid to those with health status or disability regardless of the work situation. The government missed his last efforts to cut the support of a contributing to U-Turn.

Analysts can be saved for a long time by updating billions of piles, reducing billions of piles, due to additional costs of the disability; to increase the frequency of the person’s revaluation; and more solved routes (especially) for mental health requirements with pandemic growth.

Improve the tax collection

The short term of wholesale simplification of the tax system, analysts recommend the increase in the sources of HMRC to ensure the gather more taxes.

In 2023-24, the estimated £ 36.7BN was gathered in £ 36.7BN, only 22 billion pounds was missing.

Submit traffic prices

The fuel duty brings about £ 25 billion each year. Transition to tax-exempt electric vehicles – will continue income and continue.

The use of a shaft for the EVS – continues to work with non-EVS non-EVS, it is a sensitive starting point. 6p-hooded for measurement will replace the fall of a load, plus VAT, fuel duty income, According to the resolution fund.

John Springford records an associate professor in the European Reform Center, additional advantages from the target price. “Dynamic road prices will reduce the cost of delays in the transportation of goods around the country, with police number recognition, with high prices, reduce the cost of delays in the transportation of goods around the country, and encouraging people to start peaks and work.”

New Yorkers have been against clogging prices for years. After the implementation of January, they seem to be warmed.

This is an example of measures that can only be recognized relatively quickly. Send your policy recommendations freelunch@ft.com or x @ TeamPperikh90.

Thinking does not increase income taxes, the National Insurance of Employees and VAT will make more choices.

However, as a result, the Cabinet of Labor, now, must now express trades and offets facing their deputies and more electorate.

The work and investment climate does not help the “working people” supported by the Bligting party. After all, today there are fewer salary workers than starting their term.

The recommendations shown here – extensive-based tax rises and discounts to retirement payments – need to carry more loads. They are not perfect nor are they painless. There is little choice.

However, if the employee continues to break this type of options, the UK will grow lower than low growth and higher taxes.

Food for thinking

How does the economy shape marriage? This column 3.6 mn is a marriage and more than 200,000 separate data to explore how the EU’s expansion has changed.

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Sunday free dinner is edited by Harvey Nripia