Simple changes in tax letters boost repayment rates, shaping public behavior
Behavioural public policy uses insights from behavioural economics to influence human behavior. For example, changing the wording of tax reminder letters can increase repayment rates. Methods like Nudge, MINDSPACE, and the COM-B model help identify where these insights are most relevant and evaluate interventions. The Save More Tomorrow program is an example of behavioural public policy in action, encouraging retirement saving.