Tuesday, March 20, 2007

Brown's Ten Year Tax Blag

Boning up for tomorrow's Budget, I came across this excellent update table from the Institute of Fiscal Studies Green Budget.

The headlines are:
  • Annual taxes are £40.5bn higher in real (2007-08) terms compared to when he first took over; that's 2.9% of national income, or around £1300 for every family in Britain
  • His overt tax measures are costing us a cumulative £27.5bn pa
  • Stealthy fiscal drag- ie his failure to raise tax thresholds in line with income and asset price inflation- is costing us a further £30.3bn pa
  • The £20.1bn reduction under "other factors" is not a Brown giveaway- it reflects weakness in the UK stock market and the declining profitability of financial firms


Every year.

And if the IFS says it, you know it's true: Gordo really has been the highest taxing Chancellor since the Sheriff of Nottingham.

PS The Bloke will be taking part in a Budget discussion on 18 Doughty Street's Your Money programme tomorrow at 8pm.

No comments:

Post a Comment