About me
I'm an independent economics consultant who specialises in tax policy, natural resource economics, and the negotiation of complex contracts for natural resource and infrastructure projects. I work with a range of clients from government, international organisations, and private sector. Before becoming an independent consultant I was a senior policy adviser at HM Treasury in the UK.
Current positions and associations
Expert on natural resource contract negotiations, advising low-income countries to negotiate better financial terms with investors in mining projects.
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Adviser to the Inter-Governmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) on the IGF-OECD program on tax avoidance in mining.
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Country manager for the Centre of Tax Analysis in Developing Countries (TAXDEV) program in Rwanda and adviser to Liberia under the Budget Strengthening Initiative.
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Publications
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How to use financial modelling to estimate the cost of tax incentives
Guidance on how governments can use financial models to estimate the unintended revenue losses from tax incentives in mining and accompanying open-source financial model. |
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The taxation of foreign aid: Don't ask, don't tell, don't know
Briefing note on the system of tax exemptions for official development assistance (ODA) including an overview of the evidence on how much tax is exempted and the impact on development outcomes. |
Curriculum Vitae
Economics consultant
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Specialist in tax policy, natural resource economics, and complex contract negotiation for natural resource and infrastructure projects. Selected assignments below.
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Nathan Associates for AusAID
March to May 2019 |
Advised the Deputy Prime Minister of a country in Asia-Pacific on the financial terms for a $5 billion, tier-one copper and gold mine.
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CONNEX for GIZ
October 2018 |
Reviewed the iron ore price formula in an Advance Pricing Agreement for the revenue authority of a country in West Africa.
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ODI for GIZ
May to October 2018 |
Research for a revenue authority in West Africa on (a) evidence of trade mis-invoicing and options to reduce customs duty losses and (b) value addition in the mining sector.
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IISD for IGF and OECD
February to July 2018 |
Developed a methodology for estimating the cost of tax exemptions in mining including the behavioural response of investors, a guidance note, and an open-source financial model.
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ODI for GIZ
April 2017 to April 2018 |
Delivered a one-year bespoke training program for a government in West Africa on how to design and build financial models of mining projects.
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ODI for CONNEX and GIZ
December 2015 to September 2017 |
Advised the Ministerial negotiating team of a country in West Africa on the financial terms of concession agreements in mining, agriculture and infrastructure.
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ODI for DFID
April to June 2016 |
Advised the finance ministry of a country in West Africa on a package of tax policy measures to raise revenue for the 2016-17 annual budget.
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ODI for World Bank
November 2015 |
Research for a government in the Middle East on international experiences in sub-national sharing of revenues from natural resources.
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ODI for GIZ
April to September 2015 |
Advised a revenue authority in West Africa on the taxation of natural resources, international tax avoidance and transfer pricing risk assessments.
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HM Treasury
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Senior policy adviser and project manager in the Strategy, Planning and Budget directorate. Led project teams on policy, economic and legal reforms and issues including the economic impact of Scottish independence, welfare reform, and the 50 per cent rate of income tax.
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Ministry of Finance Liberia
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Adviser to the Deputy Minister for Revenue. Provided technical assistance and capacity building to the Department of Revenue on policy formulation, communications and strategy, revenue analysis, forecasting and reporting, and natural resource concessions.
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HM Treasury
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Head of budget policy coordination in the Budget, Strategy and Tax team. Coordinated the development of tax and spending policy in annual Budgets and Pre-Budget Reports during the global financial crisis (2008-10). Policy adviser on housing supply and planning policy (2008). Policy adviser on the 2007 Comprehensive Spending Review and in-year public spending control (2006-07)
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University of Bath
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BSc Economics with placement (hons). Microeconomics, macroeconomics, econometrics, financial economics, international economics, public policy, international relations and politics. One-year placement at HM Treasury in the Public Services Directorate.
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Contact
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Email
iain@iainsteel.com Skype iain.steel83 Cell +1 (682) 248-4571 https://www.linkedin.com/in/iain-steel-063442b2 |