OECD Tells Reeves to Overhaul Complex, Distorting UK Tax System

The OECD urged UK Chancellor of the Exchequer Rachel Reeves to overhaul the tax system to make it less complex and help turn around Britain’s tepid growth rates.

The Paris-based organization said on Thursday that the UK government should tackle distortions in income tax that discourage work, “inefficient and regressive” reliefs in its sales tax and outdated valuations used for property tax.

The OECD called for an “in-depth tax review to make the tax system more efficient and growth-friendly by reducing distortions, closing loopholes, and ending reliefs and exemptions that do not serve economic or social objectives.”

It gave the ...