icowden
Squire
It's widely reported that the overall tax burden is now higher than at any time since the post war years but I don't know how that is claculated.
I think it looks at the tax burden as a percentage of income. At the moment it is estimated to be about 35%.
https://ifs.org.uk/taxlab/key-questions/how-have-government-revenues-changed-over-time
Essentially we used to be a high income tax country until the Thatcher government lowered income taxes but massively hiked VAT. Then you have your NICs which have also increased. Council tax increased hugely compared to the old "rates". Then you get your fuel, alcohol etc duty which are diminishing somewhat but help to top up the coffers.
The biggest failing IMHO is not agreeing a taxation scheme with the tech giants like Amazon and Google etc which would be worth billions in tax. Dishi has just agreed a deal which will involved them paying less tax than they did previously when we were in the EU.
Labour like to tax the very rich, which sounds logical but is usually counterproductive as the very rich can afford to move their / themselves to another country so that the government get less tax than they did before. Personally I know I am lucky that my wages are high enough to be in the 40% tax bracket but equally it feels very galling that the government get £400 out of every £1000 I earn in that bracket. I am not rich. I don't own a Tesla or a nice mansion. I live in a smallish detached house in Surrey. But I am in a very comfortable position. I could be in a much nicer position if I uprooted the family and moved North (or East to Norfolk) but them's the breaks.
The "brackets" don't really work in my head. If you had a fixed rate of 20% for example then someone earning 10,000 per annum after the personal allowance would pay £2000 in tax, whilst someone on £100,000 would pay £20,000 in tax and someone on £1000000 would pay £200,000 in tax. So you do pay more, the more you earn anyway. There is a point where you get to super rich where perhaps a different approach is needed and many of the super rich are finding ways to divest some of their wealth for the good of humanity. Others are just bobbing up and down to space cos they want a rocket...
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