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The article looks at the different distributional patterns of two alternative ways of reforming relief for owner‐occupation in UK, namely the reintroduction of income tax on imputed rent (the optimal reform, assuming housing is an investment good) or the withdrawal of tax relief for mortgage interest payments (possibly the more likely political reform). Inland Revenue data show that removal of mortgage interest relief (exclusive of the Option Mortgage) would be the more progressive measure. Removal of relief at higher rates of tax would be one possible step on the road to reform of mortgage interest.

The problems involved in trying to measure the effect of the budget on the distribution of lifetime income are reviewed. A comparison is made of the likely differences between the stylised facts of annual incidence studies and the possible lifetime impact of the budget. Annual studies show that redistribution to the poor occurs, primarily as a result of pensions. It is likely that the lifetime incidence of the budget is broadly neutral since pensions will not accrue mainly to the lowest deciles when a lifetime income perspective is taken.

The purpose of this paper is to characterize that the marginal social cost of public funds and to estimate the response of labor supply to these publicly provided goods, and simulate the marginal social cost of cash‐cum‐in‐kind transfers (MSCKT) for Brazil.

The paper provides a theoretical model based on Wildasin to characterize the marginal social cost of public funds. Next it estimates using instrumental variables approach the variables necessary to calibrate our theoretical model.

The marginal social cost of public funds depends on the relation between labor supply and the cash‐cum‐in‐kind transfers. Last, the simulations suggest that MSCKT can increase up to 12.4 percent if compared with cases in which is assumed ordinary independence between labor and the bundle of goods provided by the public sector.

Further panel data experiments based on municipal public finance data should be conducted in order to circumvent the agents' heterogeneity problem inherent in cross section analysis – and individuals' labor supply response could be more sensitive at this data level. Finally, such cost‐benefit analysis makes more sense when a specific project is considered and therefore its effects on the taxed good can be clearly estimated leading to a more reliable estimative of the marginal social cost of funding that project.

Governments should take the actual social cost of public policies into consideration before undertaking any new project.

The paper is useful to characterize the marginal social cost of public funds, estimate the necessary parameters and, last, to calibrate its correspondent using Brazilian data.

The directors of a company owe certain duties to the company itself as a legal entity distinct from its members. They also owe duties to its shareholders in prescribed circumstances, and to a lesser degree to the company's creditors. This paper, inter alia, examines the circumstances in which breach of the duties owed by the directors of the company to its creditors may give rise to criminal responsibility. Central to this analysis is an exposition of the concept of fraud and its associated concept of dishonesty generally and an analysis of the interpretation by the courts of the nature and ambit of s. 458 of the Companies Act. Finally consideration will be given as to how this offence may be affected by the proposals of the Law Commission in its Consultation Paper No. 155 as to the future role of fraud and dishonesty in offences.

Fraud is not yet universally recognised or understood as a crime, in the way that theft is. All sectors of our society recognise shoplifting as a crime, whereas an exaggerated insurance claim tends to be seen more as a matter of personal morality than public law and order.

The extent of national export volume attributable to the small firm sector within the UK does not compare favourably with that of certain other European countries/ particularly Germany and Italy. In an attempt to enhance the export competitiveness of this firm sector recent policy, research and management attention has been devoted to influences underlying export development. This article contributes to this knowledge by reviewing extensive research studies that have reported on one aspect of this topic: the international orientation of the decision maker within the small firm.

In previous articles the chemical composition of the infant's food has been discussed from a theoretical standpoint. Before dealing with the actual preparations at present on the market, it is necessary to refer briefly to certain other practical considerations which, apart from chemical composition and from any question of digestibility, greatly influence the value of these products, and which may be discussed under the following headings:—(1) Bulk or compactness, (2) Keeping power, (3) Ease and rapidity of preparation for use, (4) Cost.

This paper assesses the strength of the evidence on the impact of the physical environment on mental health and well‐being. Using a systematic review methodology, quantitative and qualitative evaluative studies of the effect of the physical environment on child and adult mental health published in English between January 1990 and September 2005 were sought from citation databases. The physical environment was defined in terms of built or natural elements of residential or neighbourhood environments; mental health was defined in terms of psychological symptoms and diagnoses. A total of 99 papers were identified. The strength of the evidence varied and was strongest for the effects of urban birth (on risk of schizophrenia), rural residence (on risk of suicide for males), neighbourhood violence, housing and neighbourhood regeneration, and neighbourhood disorder. The strength of the evidence for an effect of poor housing on mental health was weaker. There was a lack of robust research, and of longitudinal research in many areas, and some aspects of the environment have been very little studied to date. The lack of evidence of environmental effects in some domains does not necessarily mean that there are no effects: rather, that they have not yet been studied or studied meaningfully.

Presents a detailed analysis of marketers' education levels, experience and language skills carried out among French, German, Italian, Swedish and British companies. Investigates whether the characteristics and qualities of export managers are significant factors in the implementation of successful exporting. Raises the important question of language skills, and suggests that British export marketers are particularly lacking in this area, proposing that this should be looked into.