Britain has highest tax burden in 50 years
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Britain has highest tax burden in 50 years

posted in Economy by Phillip Harris on 09:02 Jul 25th, 2018

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 Britain has highest tax burden in nearly 50 years

UK businesses and households are struggling under the highest tax burden for 49 years with tax now hitting 34.3% of GDP. Each household is paying £28,000 tax on average, pulling in a total £776bn for the Treasury. Chief executive of the TaxPayers' Alliance John O'Connell said: "The increase of taxation and the introduction of new taxes have hit poorer families the hardest, leaving them with less and less at the end of the month. The funding models for social care and the NHS need real reform, not ever higher taxes. Instead of taking even more money away from families and businesses, the Government should consider cutting taxes, or reducing spending in other areas.” A report from the campaign group warned against further rises and outlined how tax cuts had increased receipts for the Treasury.

Source: Daily Mail (23/07/2018)   

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