Tax Freedom Day the latest since the early-1960s

The Adam Smith Institute (ASI) has revealed that 8th June is “tax freedom day”, when the average earner has worked enough to pay off their annual tax bill. UK taxpayers will work an average of 159 working days this year just to pay their tax and spend a higher proportion of their incomes on taxes than at any other point since the early-1960s. The ASI figures show that UK taxpayers will pay out £869.4bn in taxes this year, equivalent to 43.29% of the UK’s net national income. Dr Eamonn Butler, Founder and Director of the Adam Smith Institute said: “If people were forced to work two full days a week for the Government, they would regard it as a form of serfdom. But that is what they actually do, as the Government takes over 40% of their earnings in tax, and then it borrows because it still can’t keep its book balanced.”

The Guardian

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