Tax reform and redistribution for a better recovery

Abstract

A regressive tax system and welfare cuts under ideological austerity have generated growing poverty and inequality in the UK and US. Failures in responding to the Covid-19 pandemic and the resulting deep recession have the greatest impact on the poorest and most vulnerable, exacerbating poverty and inequality. In contrast to this depressing history, we show in detail that a better recovery in the UK requires a radical tax reform and a universal basic income, combined with a green new deal for full employment and a low-carbon economy, employee self-determination and economic democracy to eliminate exploitation and establish social justice.