The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
In April 1990, the U.K. Government implemented the largest change to local authority finance in England and Wales since the postwar period. It involves the introduction of a poll tax on domestic residents, the centralization of local business taxes, and an overhaul of Central Government grants. This paper analyzes the effect of these reforms on local government and the wider economy.