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Christian Spence Profile picture
Christian Spence
@ChristianSpence
Economics - Data Science - Public Policy | Economic Data Lead @OpenInnovates | Chief Economist & Fellow @PlaceManagement | Fellow @theRSAorg | Member @regstud
Nov 17, 2022 • 5 tweets • 2 min read
Lots to unpick from the #AutumnStatement today. "Increased flexibilities" in Council Tax, and a swathe of tax changes that will interact. Interesting that the OBR is expecting CGT receipts to fall despite reduction in allowances (which should be abolished). The growth forecasts over the short-term are grim, and spending plans over the long term will be a challenge to meet. But what does the OBR think will happen to put growth at 2.6% in 25/26? What causes this uptick? Seems too optimistic against other govt plans.
Nov 17, 2022 • 6 tweets • 2 min read
The 2% cap on Council Tax rises (temp 3%), from the Localism Act 2011, may be increased to 5% today.

Council Tax needs substantial reform. It is regressive, unrelated to ability to pay, and out-of-date with property values.

But #localgov should be championing the cap rise.🧵 That local govt revenues have been battered through austerity is a given. That hole can never be wholly filled by increased Council Tax without an unbearable burden on poorer households.

But Council Tax is an important democratic tool.