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[1] - added the metrics of Budgetary impact by program. #19

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merged 4 commits into from
Jul 16, 2024

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usage

from policyengine import EconomicImpact

impact = EconomicImpact(reform={
  "gov.hmrc.income_tax.rates.uk[0].rate": {
    "2024-01-01.2100-12-31": 0.55
  }},country="uk")

income_tax  =impact.calculate("budgetary/by_program/income_tax")
national_insurance = impact.calculate("budgetary/by_program/national_insurance") 
vat = impact.calculate("budgetary/by_program/vat") 
council_tax = impact.calculate("budgetary/by_program/council_tax") 
fuel_duty = impact.calculate("budgetary/by_program/fuel_duty") 
tax_credits = impact.calculate("budgetary/by_program/tax_credits") 
universal_credits = impact.calculate("budgetary/by_program/universal_credits") 
child_benefits = impact.calculate("budgetary/by_program/child_benefits") 
state_pension = impact.calculate("budgetary/by_program/state_pension")
pension_credit = impact.calculate("budgetary/by_program/pension_credit")
            

print(
    f"Income Tax: {income_tax} \n"
    f"National Insurance: {national_insurance} \n"
    f"VAT: {vat} \n"
    f"Council Tax: {council_tax} \n"
    f"Fuel Duty: {fuel_duty} \n"
    f"Tax Credits: {tax_credits} \n"
    f"Universal Credit: {universal_credits} \n"
    f"Child Benefits: {child_benefits} \n"
    f"State Pension: {state_pension} \n"
    f"Pension Credit: {pension_credit} "
)

output

Income Tax: {'baseline': 291090070166.62, 'reform': 496242053771.2, 'change': 70.5} 
National Insurance: {'baseline': 50826792606.89, 'reform': 50826792606.89, 'change': 0.0} 
VAT: {'baseline': 175581776889.21, 'reform': 175581776889.21, 'change': 0.0} 
Council Tax: {'baseline': 47861314826.79, 'reform': 47861314826.79, 'change': 0.0} 
Fuel Duty: {'baseline': 28019829809.09, 'reform': 28019829809.09, 'change': 0.0} 
Tax Credits: {'baseline': -208150256.01, 'reform': -308166663.98, 'change': 48.1} 
Universal Credit: {'baseline': -72209672284.1, 'reform': -73780445681.08, 'change': 2.2} 
Child Benefits: {'baseline': -15975002346.41, 'reform': -15975002346.41, 'change': -0.0} 
State Pension: {'baseline': -127240166697.26, 'reform': -127240166697.26, 'change': -0.0} 
Pension Credit: {'baseline': -2000983943.05, 'reform': -2181135212.4, 'change': 9.0}

@nikhilwoodruff nikhilwoodruff merged commit 791a9ab into PolicyEngine:main Jul 16, 2024
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2 participants