The data keeps coming. High-tax New York and California are haemorrhaging professionals to low-tax havens Texas and Florida.

The UK, meanwhile, should choose whether it wants to bring people in or push them away.
cnbc.com/2022/10/07/ric…

Worrying Telegraph report that Jeremy Hunt is considering yet another £20billion of tax rises, including in capital gains tax. Increasing CGT would be deeply damaging to the economy, as it would slow the movement of capital - telegraph.co.uk/politics/2022/…

There isn't a 'black hole' in public finances, and it would appear, on reasonable GDP estimates, that the Truss tax cuts would have been self-financing and left the UK in a better economic position, writes Derrick Berthelsen - thecritic.co.uk/Was-there-ever…

Wanted: Politicians with the guts to cut taxes, like JFK

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10. Let them build, they will come.

Allow companies to fully set off against tax investments in machinery and buildings on a permanent basis. This reform is calculated to raise business investment by 5% and real economic output by 13%.

9. Preserve taxpayer protection.

Index all tax allowances, (e.g. ISAs, CGT, IHT, etc.) to inflation. Starmer should avoid becoming a fiscal drag queen.

8. Make inflation less punishing.

Index income tax thresholds to inflation going forward. Rishi Sunak’s freezing of income tax thresholds has already raised vastly more money than the Treasury predicted, as they had no idea inflation would be so high.

7. Maintain tax competition.

Resist the imposition of a global minimum corporation tax rate by a cartel of governments. Did we take back control through Brexit just to hand it over to international tax bureaucrats?

Tax quote of the week

Next year Britain's position on this tax competitiveness index will be substantially worse