With monetary policy starting to return to normal in many countries, support provided by fiscal policy, including to a large extent through tax policy, has become more significant. Many countries have eased their fiscal stance to stimulate the economy by lowering taxes, increasing government spending, or both. This year’s report highlights that the focus of the most recent tax reforms has been on cutting taxes on businesses and individuals with a view to boosting investment, consumption and labour market participation, continuing a trend that started a couple of years ago.