Bad news for fans of economic growth this week as the US-based Tax Foundation release their International Tax Competitiveness Index, which ranks 38 OECD countries on how pro-growth their tax systems are. The UK has dropped another 3 places from last year to reach 30^th out of 38 in the rankings. Canada and Germany are well ahead at 15^th and 18^th places, as are the United States and Japan. The only silver lining – France and Italy are still below us…

The Tax Foundation’s analysis shows that the UK is competitive on cross-border tax rules but falls short on pretty much every other metric, with above-average top-rate income tax rates and the highest real property tax burden in the OECD. Sunak and Hunt’s corporation tax hike has pushed us down 17 places in that category. Tom Clougherty at the CPS notes that we’ve “gone from having the 4^th lowest headline rate in the OECD to the 21^st“. Hardly a prelude to growth…