FT.com / Comment / Editorial - The recession and the return o...

This runs the danger of making tax systems even more complex and inefficient than they already are (the UK’s decision to phase out the personal allowance is a case in point). But it also brings an opportunity to make the first steps towards badly needed tax reforms. Governments must choose taxes that spur economic efficiency, not expand those that are a drag on it. The former are easy to find, as the FT online debate on taxes showed with its suggestions of a carbon tax and (for the UK) a land value tax.

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