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Category: Economics

Making Markets Work: Rail Franchising

Making Markets Work: Rail Franchising

According to some polls, 60% of people think that the rail network should be nationalised, whilst only 25% believe it should remain in private hands. With the chaos affecting the Thameslink and Great Northern networks, annual above-inflation price-rises and a number of well-publicised failures in franchising such as the 2012 West Coast Mainline debacle, it’s easy to see the appeal. But at the same time, it’s not that simple. The number of rail journeys being made has more than doubled…

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A More Transparent Tax System

A More Transparent Tax System

One of the challenges of the tax system is how complex it is. And that’s not just in terms of the rules and sub-rules, but because it’s hard for people to really visualise what the limits mean. If someone proposes to raise taxes on everyone earning over £100,000 how many people does that affect? What should the threshold be for inheritance tax? And when we add in benefits the complexity compounds even further A further problem is the way that…

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Making Markets Work: Public Procurement

Making Markets Work: Public Procurement

Marking Markets Work is a series exploring how the free market can operate more effectively to deliver benefits to ordinary working people. It affirms that the free market has been the best and most successful mechanism for generating prosperity and lifting people out of poverty, but recognises that in recent years a number of departures from the theoretical ideals of a competitive market have resulted in some discrepancies between headline economic figures and the welfare and wellbeing of ordinary citizens….

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