Gordon Brown presented with honorary fellowship
Former Chancellor and Prime Minister Gordon Brown has been presented with an honorary fellowship of the Chartered Institute of Taxation (CIOT).
Presenting the award at an online ceremony on 24 February, Institute President Peter Rayney described him as "one of the great reforming Chancellors who has shaped the tax and related benefits system like few before or since".
Mr Rayney continued:
“In 10 years as Chancellor he made a number of significant changes which strengthened the competitiveness of the UK as a location for holding companies and many business friendly tax measures. This includes abolishing Advance Corporation Tax and introducing the corporate substantial shareholder exemption, and the valuable intangibles regime.
“He introduced the first ISAs and a simplified regime for pension tax relief which still stands today (even if its generosity has been pared back somewhat).
“He also launched the Disclosure of Tax Avoidance Schemes (DOTAS) which was a game changer to tackling marketed tax avoidance.
“He negotiated changes to the EU Savings Directive to focus it around transparency and exchange of information, rather than withholding taxes. This approach has been the blueprint for subsequent international agreements to combat tax evasion.
“He continued the trend to a lower rate and broader base of corporation tax.
“He introduced the valuable business asset taper relief, the forerunner of Entrepreneurs Relief – which we now call Business Asset Disposal Relief.
“He introduced working tax credits.
“He created HMRC as a single tax authority.
“And that’s without even getting into his impact outside tax, from the five economic tests which kept Britain out of the euro, and to his international leadership role during the 2008 financial crisis.
“In recognition of all of these great achievements, the CIOT Council is awarding an Honorary Fellowship of the Institute to the Right Honourable Gordon Brown.”
Responding, Gordon Brown thanked Peter Rayney for the honour, praising CIOT as “a highly respected professional institute which has built a reputation for integrity”.
Mr Brown continued:
“While I was fortunate to serve for 10 years as Chancellor, I could not rival the longest serving Chancellor in British history, who survived for 12 years, from 1810 to 1822. As many of you may know he only did so by abolishing income tax halfway through his tenure, just as he was about to be sacked. That’s something you should know no modern Chancellor is ever likely to be able to contemplate doing!
“I know they say that in Britain the first 500 years of any institution’s history are always the most difficult, but as you start this decade leading to your hundredth anniversary let me say you are already, 90 years on, an established and respected British institution. And so let me offer my best wishes to the Institute and to the charities you are highlighting today [Tax Aid and Tax Help for Older People], for continuing to serve our country with such distinction. Thank you for the fellowship. Thank you for the honour. And my best wishes to the institute.”
Gordon Brown is the 35th recipient of a CIOT honorary fellowship. Other former ministers to have received the honour include:
- Rt Hon Lord Mackay of Clashfern (former Lord Chancellor) 1981
- Rt Hon Lord Howe of Aberavon (former Chancellor) 2000
- Rt Hon Lord Lawson of Blaby (former Chancellor) 2006
- Rt Hon Lord Healey (former Chancellor) 2009
- Rt Hon Kenneth Clarke (former Chancellor) 2015
- Rt Hon David Gauke (former Financial Secretary and Chief Secretary) 2020