TaxPersonal TaxTax burden hits record high

Tax burden hits record high

Figures published in yesterday?s Sunday Times show the UK tax burden is at a record high level.

Data from the Office of National Statistics show that after excluding taxes from North Sea oil, the tax burden is at a record level.

Taxes and National Insurance contributions now represent 37.7% of GDP, a rise of 2.2% since the current government came to power.

If, however, revenues from North Sea oil are not stripped out, the tax burden was still higher under the Conservative government of the early 1980s.

Following the fuel crisis last month, chancellor Gordon Brown is under pressure to cut taxes – particularly those on fuel – in his pre-Budget report later this autumn.

Links

On the fuel shortage

Looking beyond petrol

Fuel crisis did hurt, say FDs

Toll VAT compounds motorists’ misery

Sunday Times article

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