Today marks Tax Freedom Day, the point at which Brits stop working for the taxman and start earning for themselves. According to the Adam Smith Institute, every penny the average worker earned up to 5th June went to the Treasury. It is the latest Tax Freedom Day ever recorded…
Taxpayers have now worked 156 days for HMRC this year, four days longer than in 2025. Cost of Government Day, which also accounts for borrowing, falls on 22nd July, the latest since the pandemic. Crack open the champagne to celebrate…
Former Treasury minister and adviser to Burnham in the Makerfield campaign Lord Jim O’Neill, who has turned down a role in his government, said Burnham’s first statement Commons was:
“The last thing investors wanted to hear… gilt yields have risen by a 0.25% in one day, which is a lot. We’ve not had that since Liz Truss days… If your country is under the focus of ‘can they come up with a sensible fiscal strategy’ on a day when the markets think ‘well no, you’re not showing any sign of it’ you’re going to have a tough day…if it stays like this your mortgage rate is going up.”