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This chapter provides a case study of the implementation of the Parking Space Levy (PSL) in Sydney, Australia. Introduced by the Parking Space Levy Act 1992, the scheme places a levy on business use of off-street car parking spaces with the revenues from the levy being hypothecated to public transport improvements. The chapter outlines the implementation of what is now a relatively mature scheme and examines how the revenues raised by the scheme have been spent.

This chapter offers a review of the introduction of the levy in Sydney and explores its impact in implementation with respect to changes to the number of parking spaces and an analysis of the way in which the hypothecated revenue has been spent. The implementation of the PSL is evaluated against the literature on hypothecation of funds and includes a discussion of policy issues for Sydney in the light of the evidence presented.

Whilst off-street parking availability is a major contributor to peak period traffic, the implementation of the PSL as a single rate of application has not led to a decrease in total number of available parking places in the City of Sydney. The number of concessions for unused spaces, whereby the levy was not imposed, increased when the levy rate was doubled in 2009 although this was accompanied by a fall in the number of exemptions from the levy. The revenue from the PSL has been dedicated to improvements in public transport infrastructure, primarily interchanges and commuter car parks although the more recent provisions to spend on ‘soft’ measures to improve sustainable travel have not been taken up.

Whilst a stated objective of the PSL was to reduce congestion, the chapter concludes that the PSL had more than this single objective which makes it more difficult to assess whether its implementation has been a success.

This chapter provides an overview of the introduction, implementation and outcomes of the PSL in Sydney, relating it to the PSL in Melbourne (Chapter 13) and the WPL in Nottingham (Chapter 15). No other study to date evaluated the PSL in Sydney against the literature relating to hypothecation nor tracked the impacts of implementation of the PSL to evaluate its success.

Knight's Industrial Law Reports goes into a new style and format as Managerial Law This issue of KILR is restyled Managerial Law and it now appears on a continuous updating basis rather than as a monthly routine affair.

The pricing of parking is a common tool used by governments to facilitate the efficient movement of traffic, raise revenue and, more recently, influence travel behaviour. An important and under-researched by-product of parking pricing schemes is the impact of these schemes on parking supply.

This chapter offers a review of prior research and literature, and explores: who pays the parking levy, the impact of the Congestion Levy on the provision of parking and an overview of the transport impacts of the levy.

The direction of the levy at parking operators and owners rather than the vehicle drivers does not provide a direct link between users and the levy and results in many parking providers not passing the levy onto commuters. The study of parking supply impact shows that, since the introduction of the levy, the supply of commercial off-street parking spaces has declined while the growth in private, non-residential, parking spaces has slowed. Over the same period, there has been a decrease in the number of parking spaces provided for long-stay parking (which attract the parking levy), and an increase in the number of spaces provided for other uses. Understanding these parking supply impacts are important, not only because a reduction in the number of long-stay car parking spaces is an objective of the levy, but also because any such reduction could magnify the travel behaviour impacts that may have occurred solely as a result of an increase in parking price. Investigation of the overall transport impacts of the levy indicate that the parking levy did have an impact on mode choice. However the extent of this impact was not clear due to a large number of associated changes in policy and economic conditions that took place at the same time as the levy.

The chapter shows that the parking levy was positive in its impact on transport use, however there were a number of improvements that could be made to the way the levy was implemented that could improve these. Interestingly, there have been a number of recent changes in the implementation of the levy that address some of these issues. Most importantly, following its own investigation into the impact of the levy, from January 2014 the cost of the levy was increased by 40% to $1,300 per annum, and its coverage extended (Victorian State Revenue Office, 2013). The impact of this change has not been considered in this research.

The uniqueness of the chapter lies in its exploration of how increased prices of parking has influenced supply and how the levy, as a new form of congestion pricing, has influenced the supply of parking in the context of the case study of the Melbourne parking levy in Australia.

In countries where the electronic levy (e-levy) has been implemented, one question that resonates with the populace is, “how much would you want to pay for e-levy per transaction?” In response, varied perspectives have been shared with no convergence. Against this background, this study seeks to estimate people's willingness to pay (WTP) for electronic transaction levy in Ghana, while analysing the associated determinants.

This study relies on a survey of 2,810 respondents obtained from February 9 to 16, 2022 in Ghana. A multivariate logit model was estimated with its marginal effects. Further, a robustness check was undertaken using the linear probability model to validate the results.

With respect to the sample, the authors find evidence that approximately 46% of the respondents are not willing to pay any amount per transaction for the e-levy. Second, about 21% of the respondents are willing to pay Ghs0.5% as e-levy per transaction. Furthermore, about 10% of the respondents are willing to pay 1% per transaction as e-levy. Those who indicated that they would pay rates above 1% (specifically, 1.50%–1.75%) per transaction are less than 5%. For flat rates, approximately 10% of the respondents were willing to pay Ghs5 per month for all transactions above Ghs100. All others who are interested in other flat rates together are less than 5% of the respondents. The key statistically significant determinants of the probability that an individual would be willing to pay for the e-levy are also provided. This study recommends a comprehensive dialogue between the government and all stakeholders to reach a reasonable conclusion on an acceptable e-levy rate and by extension, implementation strategies.

To the best of the researchers' knowledge, this is the first empirical study that estimates individuals' willingness to pay for e-levy on electronic transactions in a developing country.

The purpose of this paper is to investigate and recommend formal guidelines for the initial design of country-level or sectoral payroll levy systems that are intended to incentivize new firm training. The paper presents and illustrates two necessary conditions for new training to be stimulated, one involving transaction costs and the other the incentive payback. Ultimately, the purpose is to guide more successful designs for such systems in future.

The paper is principally theoretical, but the South African levy-grant system of the late 1990s is used as a case study. The paper illustrates how World Bank data may have been used to guide the design.

The paper demonstrates how during the design phase, policy makers can employ knowledge of pre-incentive training levels of firms, and possibly also estimates of unit transaction costs, to estimate the number of employees that may be positively affected. In the South African case, the actual system used may have been underspecified and unlikely to reach many employees with new training.

Future research may employ these guidelines in empirical studies of the relative success of payroll levies.

The practical value of the paper is formal guidelines for policy makers seeking to implement such payroll levy systems.

Better design for these systems may have positive implications for productivity and social externalities while avoiding unnecessary waste.

While there have been several more general reflections of payroll levy systems, and empirical investigations of their efficacy, this is the first paper formally modeling and testing design guidelines that can be implemented practically in the pre-implementation phase.

an account of the steps taken by the Iron and Steel Industry Training Board Until 31 March 1970 the Iron and Steel Industry Training Board, established in July 1964, operated a COST‐BASED grant scheme. Over this period the levy increased as a result of several influences: an increase in the number of categories for which grant was paid; an increase in the numbers receiving training; an improvement in training schemes and a continuous upward trend in costs themselves. By 1969/1970 the levy had reached a figure of £24.50 per employee. Now the Board is holding in abeyance the greater part of grants that could be paid, together with the levy that would be required and has devised a new system of training assessment. This is a major step in disengagement from levy. For 1970/1971 the maximum levy will be £6 a head with certain exemptions and abatements. In this article Mr Duncan gives a factual account of developments in the Board's activities and contributes some personal viewpoints.

August 9, 1966 Harrogate, Yorkshire Assessment to levy‐reduction in scope of trade of appellants ‐number of employees reduced — calculation of levy — whether fact that appellants will not benefit from scheme valid ground for resisting assessment — Industrial Training Levy (Wool) Order 1965.

Decision theoretic utility analysis has long been proposed as a method for analyzing the monetary impact of training. Increasing complexity in the training environment requires, however, that additions be made to the basic algebraic assessment formulas. One such addition may include the effect of levy‐grant systems that stem from legislation and are designed to incentivize employer provided training EPT). The impact of such incentive systems on the bottom‐line of a company is a vital consideration in what training to apply and whether to participate in the grant incentive activities. Interest in the range of evaluation techniques is increasing. This article accordingly adjusts the basic decision theoretic utility analysis techniques for the special case of a levy‐grant incentive, using South Africa as a case study. It is hoped that the principles used here can thus be extrapolated to other skills development systems, allowing both organizations and policy makers to make optimal decisions.

The purpose of the paper is to back-test value-at-risk (VaR) models for conditional distributions belonging to a Generalized Hyperbolic (GH) family of Lévy processes – Variance Gamma, Normal Inverse Gaussian, Hyperbolic distribution and GH – and compare their risk-management features with a traditional unconditional extreme value (EV) approach using data from future contracts return data of S&P500, FTSE100, DAX, HangSeng and Nikkei 225 indices.

The authors apply tail-based and Lévy-based calibration to estimate the parameters of the models as part of the initial data analysis. While the authors utilize the peaks-over-threshold approach for generalized Pareto distribution, the conditional maximum likelihood method is followed in case of Lévy models. As the Lévy models do not have closed form expressions for VaR, the authors follow a bootstrap method to determine the VaR and the confidence intervals. Finally, for back-testing, they use both static calibration (on the entire data) and dynamic calibration (on a four-year rolling window) to test the unconditional, independence and conditional coverage hypotheses implemented with 95 and 99 per cent VaRs.

Both EV and Lévy models provide the authors with a conservative proportion of violation for VaR forecasts. A model targeting tail or fitting the entire distribution has little effect on either VaR calculation or a VaR model’s back-testing performance.

To the best of the authors’ knowledge, this is the first study to explore the back-testing performance of Lévy-based VaR models. The authors conduct various calibration and bootstrap techniques to test the unconditional, independence and conditional coverage hypotheses for the VaRs.