As the Bank of England’s Monetary Policy Committee prepares to release its
quarterly inflation report this week, a new independent study says the country’s
high tax burden is costing the UK economy an extra £138bn a year in lost wealth.
The research by economist Fred Harrison, and published by the Institute of
Economic Affairs, said Gordon Brown’s tax policies were crushing incentives to
work, trade and invest, The Business reported.
According to the report, the indirect cost of the tax system is estimated at
about 12% of national wealth, taking the total cost of government to more than
half of the national income.
Harrison called for urgent action to remedy the tax system
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
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