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News & Events
News
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03-Jun-2008
The 2008 Finland Country Survey argues that globalisation, including the increased mobility of jobs, will continue to put pressure on the Finnish tax base. In order to address this, the Survey recommends that Finland change the mix of taxation, with a reduced burden on labour (especially highly-skilled labour) and an increased burden on immobile factors such as land.
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25-Apr-2008
A reform package enacted in 2007 introduced notably flat tax in personal incomes and fees for certain medical services. This chapter takes stock of the package and the many further plans aimed at addressing long term fiscal sustainability.
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16-Apr-2008
After many years of sustained growth, the housing market has slowed: house prices are falling and there has been a sharp reduction in the number of new homes being built. The exceptional rise in property values in recent years was largely driven by higher income and demographics, but did appear to overshoot the sustainable level. House prices may ease further and could even fall below their long-run value. Residential investment is experiencing a sharp slowdown. This will have some effect on wider economic activity.
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16-Apr-2008
Softening economic growth and the slowdown in the housing market mark a turning point for fiscal policy. Strong revenue growth in earlier years financed a sustained expansion of government spending and some cuts in tax rates, while still allowing the government to run a substantial fiscal surplus. This left the public finances in a healthy state with net government debt declining to a very low level. But this benign picture is changing as growth slows and tax receipts increase more slowly. Public spending growth needs to slow.
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09-Apr-2008
Government finances have improved significantly over the past years on account of both cyclically higher revenues and structural expenditure restraint. In order to preserve these achievements for the longer term, the government should consider replacing the fiscal rule currently enshrined in the constitution, which has proved to be ineffective in preventing an increase in the debt level. Safeguarding future tax receipts is also a challenge and the implemented corporate tax reform will be helpful in this respect.
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08-Feb-2007
This paper presents composite indicators of the institutional characteristics of primary and lower secondary educational systems for 26 OECD countries collated from a questionnaire. Economics Department working paper 543 by Frédéric Gonand, Isabelle Joumard and Robert Price.
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23-Jan-2007
This chapter addresses the challenge that the adjustment to sustained high oil prices poses for macroeconomic management, particularly with respect to competitiveness and inflation. Economics Department Working Paper 537 by Christian Gianella.
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Top of page
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How deep is the impact of the recent oil and credit shocks on the productive potential of OECD economies?
Issue No. 83
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