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Tax Reform to Promote Investment.

Abstract:

In this paper we explain why the current UK corporation tax discourages investment, consider how large this effect is likely to be, and discuss how this tax bias against corporate investment can best be eliminated. The present corporation tax does not raise the cost of capital for all types of investment, but does raise it for investment financed by retained profits. We propose a new corporate to allowance for investment financed by equity (the Allowance for Corporate Equity). This approach n...

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Authors


Stephen R. Bond More by this author
Michael P. Devereux More by this author
Malcolm J. Gammie More by this author
Journal:
Oxford Review of Economic Policy
Volume:
12
Issue:
2
Publication date:
1996
URN:
uuid:92b2a9f4-2895-4960-840d-df1782b986cc
Local pid:
oai:economics.ouls.ox.ac.uk:12810
Language:
English

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