Questions and answers about
the economy.

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What would be the effects of abolishing or reforming inheritance tax?

Inheritance taxes aim to raise revenue and reduce inequality of opportunity arising from differences in parental wealth. But current UK policy has little impact on social mobility. Scrapping the tax would benefit the wealthiest, while reforms could reduce unfairness and negative economic effects.

1-3 October 2024 Bristol

Attitudes, media & governance

Wellbeing policy: what lessons from the Nobel laureate Daniel Kahneman?

The late Daniel Kahneman was awarded the economics Nobel Prize in 2002 for influential research on how people make decisions. His work on wellbeing has also had wide impact, including on what official statistics measure and evaluation of the effects of policies on people’s life satisfaction.

DATA HUB

UK business demographics

Yesterday, the ONS published new data on business demography in the UK, revealing that the construction industry saw the most growth in 2023 with 4,560 new active enterprises.

Close behind, the health industry experienced notable expansion, with business births outpacing closures by 4,335.

Despite 44,050 new wholesale trade and retail enterprises, the industry as a whole contracted with a net decrease of 3,515. The most significant decline was observed in the transport and storage sector, with a net total of 10,720 firms no longer active.

Transport & infrastructure

Visitor caps: what potential impact on the world tourism industry?

Caps on the numbers of visitors allowed at certain destinations aim to relieve pressure on hotspots of overtourism. Their introduction presents an opportunity for other places to attract more tourists and students, boost their economies and promote a more sustainable and equitable tourism industry.

Energy & climate change

Climate change: what are the economic impacts and potential solutions?

To stand a chance of meeting the net-zero ambitions of the Paris Agreement, a multi-pronged approach to curbing climate change is needed that permeates all sectors of our society and economy. Done well, this comprehensive approach will ensure a just transition.

Energy & climate change

How should a national energy efficiency policy be targeted ahead of winter?

Rising gas and electricity prices have affected millions of UK households and increased rates of energy poverty. Energy efficiency policies should make a priority of support for the most vulnerable, particularly low-income households and those with disabilities or long-term illness.

Energy & climate change

How does uncertainty about the future affect climate change policy?

Uncertainties about the future mean that the design of climate policy is a challenging task. Being able to make adequate predictions of different potential scenarios is vital for building effective tools for both climate mitigation and climate adaptation.

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