A more progressive tax system for Guernsey

//A more progressive tax system for Guernsey

A more progressive tax system for Guernsey

EconDaddy - IB Economics tutor - income distribution

BBC: Guernsey tax allowance to end for high earners

Article published: Oct 4, 2016 – out of date: no longer suitable for your IB Economics commentary

IB Economics syllabus: Macroeconomics (inequality in the distribution of income, redistribution)

The government of Guenrsey decided to make their tax system more progressive. For example, to provide “[r]educed or no allowance for those earning more than £138,000.” Excellent article to talk about the inequality in the distribution of income (showing a Lorenz curve) and about the ways in which the government collects taxes to have more funding for helping “those most in need”. In order to have a more balanced government budget (i.e. more tax reveue), there are also plans for the introduction of higher indirect taxed (on property, sugar, tobacco and alcohol).

Source of image: BBC/Thinkstock

Do you need a little boost with IB Economics?

Looking for more articles?

Click here.

Will you pass the exams?

Fill out the below quiz, and check out how much you know of IB Economics.

I’m taking the micro quiz
By | 2018-10-24T03:41:44+00:00 October 11th, 2016|Macro|Comments Off on A more progressive tax system for Guernsey

About the Author:

My name is Daniel Szekely and I work as an IB Economics tutor, examiner and teacher. Having earned an MA degree in Economics at the University of Aberdeen, I started my career as a financial analyst at Morgan Stanley, one of the largest investment banks of the world. Yet, despite the promising career prospects of the banking industry, I decided to make a larger social impact by becoming a teacher. Currently, I teach IB Economics at SEK Budapest International School and have been an examiner for over 6 years. I started EconDaddy as a simple blog to share great articles with my students and others taking IB Economics around the world to use for their commentaries. Being a practicing IB Economics tutor, I have first hand insight into the most common mistakes of students, so the EconDaddy blog now also provides exam and commentary writing tips.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close