Budget 08: Tax income to rise by £22bn

Government tax receipts will increase by £22bn in the year 2008-2009, according figures put out by the Treasury in its Budget red book.

The biggest rise in receipts is expected from national insurance, predicted to produce an extra £10bn for the Treasury because of an increase in the upper earnings threshold.

Corporate tax receipts are expected to rise by £2bn and income tax by £3bn. VAT is due to rise by £4bn.

Total government tax receipts for the current year should reach £575bn.