Posted by: westlancashirerecord | June 2, 2019

The Tax Burden On Households Is At 50-Year High

The Taxpayers Alliance

has reported “that the tax burden in the UK is now at a 50-year high: taxes reached 34.6% as a proportion of GDP in 2018-19, the highest level since 1969-70. Whilst efforts have been made to lower the amount of direct taxes that are paid by the poorest, such as by increasing the personal allowance, the burden of taxes falls disproportionately on those who can least afford it.

“New data out this week showed this alarming trend in fuller detail. In real terms, the bottom 10% of households paid £5,471 in direct and indirect taxes in 2017-18, or 47.6% of their gross income. Whilst there have been fluctuations over the last 10 years, this represents a 10.2%t increase as a proportion of gross income from 2008-9.

“Tax Freedom Day, a report published annually by the Adam Smith Institute, is a measure of when Britons stop paying tax and start putting their earnings into their own pocket. This year Tax Freedom Day was Thursday 29th May, the latest it’s been since 1995.

“It’s demoralising to think we spend so long each year working for politicians. It’s even worse to think just how much of that hard-earned cash is wasted. We hope the Adam Smith Institute will report an earlier Tax Freedom Day next year, as it might mean that Britain is becoming a more pro-enterprise country with lower, simpler taxes funding better public services!”


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