In a bid to trigger new and fresh innovation around tax, PwC is giving away £20,000 in a landmark competition to find the best idea for how the UK’s tax system could be redesigned to improve job prospects and drive growth in the economy
The competition, which is open to students, invites candidates to put on their thinking caps and present their winning plan in the form of an essay.
The competition is part of the firm’s Paying for Tomorrow campaign, which is about how the UK tax system needs to adapt for the future and the increasing demands that will come for tax revenues. It includes the canvassing of opinion from all groups of tax payers and so far has included a Citizens’ Jury and a Business Jury.
The next phase of the wider project aims to engage the student population on tax issues. As such, students are invited to submit a 2,000 - 3,000 word answer to the question: ‘How would you change the UK tax system to improve future employment prospects and drive the economy?’
Judges include Linda Bennett, founder of LK Bennett and professor Tim Besley, school professor of economics and political science at the London School of Economics.
The winner will be announced in February at a prize giving ceremony in London. The top three entrants will all be invited to present their ideas.
Kevin Nicholson, head of tax at PwC, said that tax impacts everyone yet most never get the chance to have a say in how taxes are raised.
‘The Paying for Tomorrow campaign is about opening up the debate. We want to hear from students - tomorrow’s workforce who will be impacted hugely by tax policies put in place now. The substantial prize reflects the importance we place on students’ fresh thinking.
‘It’s time for a strategic vision of how tax will be generated in years to come. As a large tax business, we recognise we have a responsibility to champion change,’ said Nicholson.
The competition is open until 5th January 2015 to full time students in higher or further education studying in the UK. The firm may contact an institution’s relevant registration office to verify a student’s eligibility to participate in the competition.
More information on the competition and details on how to submit an entry can be found here
More information on the Paying for Tomorrow: Future Tax campaign can be found here