In jurisdictions following the Englishcommon law, equity is the set of maxims that "reign over all the law" and "from which flow all civil laws". The Chancery, the office of equity, was the "office that issued the writs that were the foundation of the common law system". Equity is wholly "unaffected by any state laws” (Pomeroy) and is "everything, even without law".
Equity is commonly said to "mitigate the rigour of common law", allowing courts to use their discretion and apply justice in accordance with natural law. In practice, modern equity is limited by substantive and procedural rules, and English and Australian legal writers tend to focus on technical aspects of equity. Twelve "vague ethical statements", known as the maxims of equity, guide the application of equity, and an additional five can be added.
A historical criticism of equity while it developed was that it lacked fixed rules, with the Lord Chancellor occasionally judging in the main according to his conscience. The rules of equity later lost much of their flexibility, and from the 17th century onwards, equity was rapidly consolidated into a system of precedents (or case law) much like its common-law cousin.
Equity or economic equality is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics. More specifically, it may refer to equal life chances regardless of identity, to provide all citizens with a basic and equal minimum of income, goods, and services or to increase funds and commitment for redistribution.
Inequality and inequities have significantly increased in recent decades, possibly driven by the worldwide economic processes of globalisation, economic liberalisation and integration. This has led to states ‘lagging behind’ on headline goals such as the Millennium Development Goals (MDGs) and different levels of inequity between states have been argued to have played a role in the impact of the global economic crisis of 2008–2009.
Equity is based on the idea of moral equality. Equity looks at the distribution of capital, goods and access to services throughout an economy and is often measured using tools such as the Gini index. Equity may be distinguished from economic efficiency in overall evaluation of social welfare. Although 'equity' has broader uses, it may be posed as a counterpart to economic inequality in yielding a "good" distribution of wealth. It has been studied in experimental economics as inequity aversion. Low levels of equity are associated with life chances based on inherited wealth, social exclusion and the resulting poor access to basic services and intergenerational poverty resulting in a negative effect on growth, financial instability, crime and increasing political instability.
The report found many headwinds that slowed private equity dealmaking in 2022 continued to impact the industry over the course of last year, causing deal activity to decline sharply for the second year in a row.
This romance invites the question ...Nurses come top, as they always do ... Labour hasn’t resiled from its plans to abolish non-dom tax status, impose VAT on private school fees and close a lucrative tax loophole exploited by private equity dealmakers ... .
At which point, an inevitable warning ... The only extra taxes in play – on non-doms, private schools and private equity “dealmakers” – will raise less than £10bn a year, which also puts a lid on any big policy ambitions.
At which point, an inevitable warning ... The only extra taxes in play – on non-doms, private schools and private equity “dealmakers” – will raise less than £10bn a year, which also puts a lid on any big policy ambitions ... Rafael Behr. Read more ... .
... to better understand valuation and industry-specific trends, the accuracy of media leaks, and the impact of phenomenon such as the rise in divestures and slowdown in private equity-backed dealmaking.