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Balanced View: Intelligent Discussion of Market Trends
jack tile - Fri, 22 Dec 06 :
How is this for a trend?
We give almost a quarter of our pay to the Chancellor
Daily Mail 22nd December 2006
Gordon Brown's take is the highest since records began
We give almost a quarter of our pay to the Chancellor. Gordon Brown is grabbing almost a quarter of the average person’s salary — the highest proportion for almost two decades.
Many families are failing to feel the benefits of Britain’s strong economic performance because of Gordon Brown’s tax grab, the figures revealed.
Figures from the office for national statistics show that disposable incomes rose at less than half the pace of the overall economy - only 1.3 per cent.
And the taxman consumed nearly 24 per cent of wages and salaries - the highest share since ONS records began in 1987.
At the end of 1997 - the year Labour came to power - the share was less than 19pc.
Britain’s tax burden rose more than any European Union country last year, and official figures show the relentless rise is set to continue.
The latest figures show that under Labour income tax has more than doubled to £146 billion in the current tax year compared with 1997.
Council taxes have soared to £22.5 billion from only £9.8 billion over the same period, while stamp duty has skyrocketed to £6.3 billion from £1.1 billion.
Overall, government taxes on individuals will have surged to nearly £400 billion by the end of this financial year, from £215.7 billion in 1997.
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