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Economy

What are the best ways to improve our tax system for everyone?

Why are chocolate-covered shortbread and plain shortbread taxed differently? The UK’s VAT system is full of bizarre inconsistencies that make it complex, inefficient, and unfair. In this episode, we dive into how VAT works, why economists tend to love it in theory, and why the UK’s version falls short in practice. We explore zero and reduced rates, exemptions, myths about regressivity, and discuss how simplifying VAT could make it fairer and less distortionary. In the fourth and final episode of our tax mini-series, Helen, Ben and Stuart look at how to fix one of the UK’s most important and misunderstood taxes. Become a member: https://ifs.org.uk/individual-membership Find out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts Hosted on Acast. See acast.com/privacy for more information

United Kingdom
Geopolitics

How should countries respond to the use of drones in conflicts like the one between Russia and Ukraine?

Russia launched at least “800 drones” against Ukraine on Wednesday, killing at least six people and wounding several others, according to Ukrainian President Volodymyr Zelensky. He accused Moscow of deliberately carrying out the attacks on the day US President Donald Trump arrived in China. These Russian drone strikes illustrate the intensification of bombing during daylight hours and in regions sometimes far from the front lines. Story by Simon Moritz and Loïc Chalavon

Global