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@francescrook.bsky.social

418 Following4.3k Followers

Co-convenor of the Commission on Political Power https://commissionpoliticalpower.uk
Francescrook.Substack.com

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@francescrook.bsky.socialOct 11, 2026, 2:50 PM

Six more people join the crowded House of Lords this week. Time for change

commissionpoliticalpower.uk/publications...

@carolecadwalla.bsky.socialOct 11, 2026, 10:08 AMReposted by @francescrook.bsky.social

NEW: Prime Minister Andy Burnham finally breaks a decade of UK govt silence…& reveals there was ‘clear’ Russian interference in the Brexit vote. 1/

@jakemgrumbach.bsky.socialOct 9, 2026, 4:54 PMReposted by @francescrook.bsky.social

New working paper: the Norwegian wealth tax was a huge success. The "exodus" of wealthy people never happened (less than 100 individuals left). Tax revenue increased by 71.5%. No changes in business activity or investment.

www.nber.org/papers/w35854

Taxing Entrepreneurial Wealth: Evidence from
Norway, 2021-2025
Marius A. K. Ring
WORKING PAPER 35854|
DOl 10.3386/w35854
ISSUE DATE October 2026
Whether imposing higher taxes on business owners adversely affects business activity by constraining investment and inducing capitalist flight is a central question in the ongoing debate on how to tax the ultra wealthy. To shed new light, I exploit a series of related Norwegian reforms during 2021-2024 that increased dividend tax rates, removed migration-related capital gains tax loopholes, and nearly doubled the effective marginal tax rate on business wealth. These reforms spurred international debate and, allegedly, an "exodus" of Norwegian billionaires (Financial Times,
2023). While I document clear effects on migration, these responses are concentrated among the top 0.1% of the wealth distribution and mostly confined to 2022 and 2023. My results indicate that at most 100 individuals left due to the reforms. I find no evidence of significant outmigration or reduced inflows of startup founders or inventors. I estimate that absent any outmigration, wealth tax revenues would have increased by 75% from 2021 to 2024. Reform-driven outmigration lowers the revenue gain to 71.5%. My findings further show that outmigrating owners' firms remain economically active and do not reduce investment. In a broader set of analyses, I examine whether business outcomes are affected, regardless of whether owners outmigrate, since firms may reduce investment both due to liquidity constraints or distortions to owners' savings decisions. I compare firms owned by Norwegian individuals subject to the wealth tax with firms owned by foreigners and other tax-exempt entities. By merging historical ownership data from Orbis with the Norwegian shareholder register, I perform these analyses on both Norwegian and foreign-domiciled firms.
Across settings, I find no evidence that Norwegian-owned firms pay out more dividends or invest less after the reforms,…
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@francescrook.bsky.socialOct 10, 2026, 8:20 PM

My daughter, who is now a senior academic, was a mouse in the National Theatre production of the Wind in the Willows. She got eaten at every performance.

@fairness.bsky.socialOct 9, 2026, 9:11 AMReposted by @francescrook.bsky.social

Join us at the @blavatnikschool.bsky.social on 22 October at 6pm to discuss Will Snell's new book 'The Fair Necessities' about how we build a fairer economy and society.

Ft. @dannydorling.bsky.social, @jowolff.bsky.social & Fran Bennett.

🔗Register here: www.bsg.ox.ac.uk/events/blava...

Image showing the date and time of this event on a picture of the blavatnik school of government
@francescrook.bsky.socialOct 10, 2026, 6:25 PM

Why doesn’t someone make a decent version of Persuasion? There are great versions of Pride and Prejudice and Sense and Sensibility (the Emma Thompson one) but not Persuasion

@francescrook.bsky.socialOct 7, 2026, 4:53 PMReposted by @francescrook.bsky.social

@francescrook.bsky.socialOct 9, 2026, 1:27 PM

Getting ready for Halloween? Don’t buy Cadbury slop, it’s just palm oil and flavours, not chocolate. Try Waitrose chocolate coins (wrapped to protect sticky fingers! And not expensive)

@paulbernal.bsky.socialOct 9, 2026, 10:50 AMReposted by @francescrook.bsky.social

Regardless of everything else, this should be applauded and appreciated. A great story.

@bestforbritain.orgOct 9, 2026, 7:14 AMReposted by @francescrook.bsky.social

Kemi Badenoch’s flagship party conference policy document overestimated the cost of net zero by nearly £500bn…

…seemingly after someone accidentally double-counted figures on a spreadsheet.

www.theguardian.com/politics/202...

@francescrook.bsky.socialOct 8, 2026, 11:02 PM

Sorry that Matthew Parris won’t be presenting BBCR4 Great Lives, he’s very good at it. Although he wasn’t impressed when I chose Barbara Castle!

www.bbc.co.uk/sounds/play/...

@tomshakespeare.bsky.socialOct 8, 2026, 2:33 PMReposted by @francescrook.bsky.social

If we want Public Sector Broadcasting, we have to pay for it.
www.theguardian.com/media/2026/o...

@pickardje.bsky.socialOct 8, 2026, 11:48 AMReposted by @francescrook.bsky.social

I'm sorry if this is obvious but the Tory proposal to exempt family homes completely from IHT will lead to 1] pensioners buying the biggest houses they possibly can 2] pensioners refusing to downsize which can only be bad news for younger families trying to buy family homes

@francescrook.bsky.socialOct 8, 2026, 9:29 AM

Smarty pants 👏

@jydenham.bsky.socialOct 8, 2026, 9:17 AMReposted by @francescrook.bsky.social

Really interesting the extent to which X is now functioning as the Editor of @BBC Today programme.

@newsthump.comOct 7, 2026, 7:27 PMReposted by @francescrook.bsky.social

NEWS! Reform reassures public that Reform’s investigation into Reform donations has found Reform did nothing wrong newsthump.com/2026/10/07/r...

@francescrook.bsky.socialOct 7, 2026, 4:53 PM

@francescrook.bsky.socialOct 7, 2026, 12:13 PM

She thinks he’s cuddly

@francescrook.bsky.socialOct 7, 2026, 11:57 AM

Tories gift tax break on inheritance to millionaires, free child care to people earning hundreds thousands. Clear who they care about.

@politico.comOct 7, 2026, 11:46 AMReposted by @francescrook.bsky.social

Mamdani’s approach to the NYPD is not what reform advocates expected

politi.co/4jsc5O3

politico.comMamdani’s approach to the NYPD is not what reform advocates expected politi.co/4jsc5O3Mamdani’s approach to the NYPD is not what reform advocates expected politi.co/4jsc5O3
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