https://www.vaultsoftheodd.com/tags/fiscal-architecture/Recent content in Fiscal Architecture on Vaults of the ODDHugoen-gbTue, 21 Jul 2026 09:10:00 +0000https://www.vaultsoftheodd.com/politics/comparative-fiscal-capacity/Tue, 16 Jun 2026 10:00:00 +0000https://www.vaultsoftheodd.com/politics/comparative-fiscal-capacity/A comparative analysis of what each live constitutional path — the current settlement, enhanced devolution and independence — would require Wales to build in fiscal capacity, and how strong the evidence is for each requirement. Working through eleven mechanisms, from territorial funding and borrowing to currency, welfare and payment systems, it argues the paths are not steps on a single ladder of more or less power but different problems of capacity — and recommends none of them. A companion evidence annex carries the full method, mechanism dossiers and source log.https://www.vaultsoftheodd.com/politics/welsh-income-protection-endowment/Tue, 21 Jul 2026 09:10:00 +0000https://www.vaultsoftheodd.com/politics/welsh-income-protection-endowment/A design for a permanent, largely self-financing Welsh capital institution that would protect workers’ incomes after redundancy or lost hours, funded by a temporary hypothecated penny on the Welsh basic rate of income tax, after which the fund’s own investment returns cover claims and the levy stops. Whether Wales presently has the constitutional authority to establish such an institution is unresolved and requires an independent legal opinion; even a favourable one would leave a second, political gateway. Offered as an institutional design study — how it would operate if those gateways were passed — and a case for testing it, not a scheme Wales can enact today.https://www.vaultsoftheodd.com/politics/persistent-asset-charge/Tue, 21 Jul 2026 09:00:00 +0000https://www.vaultsoftheodd.com/politics/persistent-asset-charge/A constitutional architecture for a recurring charge on the holding of concentrated assets, independent of income, gains, transfers or death, and immune to the legal form in which they are held. It sets out three governing principles, settles what follows from them, and separates what is architecture from what is a matter for Parliament and what only evidence can determine. A companion stress-testing pass tries to break the model and reports honestly what holds.https://www.vaultsoftheodd.com/politics/persistent-asset-charge-stress-test/Tue, 21 Jul 2026 09:05:00 +0000https://www.vaultsoftheodd.com/politics/persistent-asset-charge-stress-test/The adversarial companion to the architecture paper: an attempt to break the model and report honestly what breaks. It tests revenue sufficiency and human-rights durability first, since either failing would make the rest moot, then works through avoidance migration, capital flight, administrative feasibility and cumulative taxation. No test returns a fatal verdict, but two return serious but addressable, each with a specific, nameable condition.