Taxes rising in developing world
Tax collectors are raiding the developed world's economies for a diminishing slice of national incomes, according to an Organisation for Economic Cooperation and Development study.
The study claims that rich country public revenues commanded a smaller proportion of GDP on average last year, compared with 2001 (40.5% and 41% respectively).
Its latest Revenue statistics bulletin said that this was the second annual decline following a five-year rise, and could be explained by tax cuts and the global economic slowdown. Britain was one of seven countries seeing tax-take proportions decline by more than 1% (37.3% to 35.9%) alongside Austria, Hungary, Canada, Ireland, Greece and Turkey.
For the full study, see www.oecd.org