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Article published: Oct 4, 2016 – out of date: no longer suitable for your IB Economics commentary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

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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 8 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.

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