Big State’s Tax Take Hits 49-Year High

After eight years of Conservative government and supposed austerity, the tax burden this year is at a 49-year high, at 34% of GDP, with total government revenues this year at a 32-year high, at 37% of GDP. The 3% gap being the deficit. The government is spending a whopping £30,000 per household.

The state is growing, even inflation adjusted spending has doubled in the last half-century, with the curve going up steeply when Gordon Brown was splurging on welfare spending in the late 90s.

The financial crisis in 2008 saw expenditure sky rocket. The UK can only become a high growth economy if it is a low tax economy. If the tax take goes any higher, investment will go elsewhere…

Download the TPA report: Tax Burden


Seen Elsewhere



Tip offs: 020 7193 4041
team@Order-order.com

Quote of the Day

Peter Mandelson tells Emma Barnett…

“I think that Jeremy Corbyn himself should search his conscience and ask himself whether he’s the best person to lead the Labour Party into the general election with the best chance of success for the party.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.