British taxpayers have worked a gruelling 154 days this year just to pay their taxes, four days more than in 2015. This year also sees the date creeping into June for the first time in fifteen years, a red flag that Britons’ tax burden is moving in the wrong direction.I am afraid even if the country does vote for Brexit on June 23, this is not going to be solved unless this or a future government starts thinking seriously about tax reform and about what it is government needs money for.
Whilst net national income has increased by £34.6bn from 2015, government has actually gobbled up £35.4bn more in taxes, meaning the government has actually left Britons £1bn worse off than last year, a reminder that tax reform must remain a priority.
Friday, June 3, 2016
Tax Freedom Day is later than before
We have the annual press release from the Adam Smith Institute, which tells us that this year Tax Freedom Day falls on June 3, four days later than in 2015. Oh the joys of having a socialist governments. Oh wait, what am I saying? Well, you know what I mean.