Here's the key "have taxes been cut" chart. Even after today's tax cuts, the tax burden reaches its highest level for 70 years - up by well over £4,000 per household since on pre-pandemic levels
NOTE: taxes being up isn't just because of tax thresholds being frozen (although those have ended up being HUGE tax rises). It also reflects wider tax richness of the economy having increased ie HMT is getting more money in that expected for given level of GDP
@TorstenBell @djohnsonmsp And yet somehow with record tax takes nationalist governments north and south of the border are delivering terrible public services
@TorstenBell @e_casalicchio So what explains that sprint of the tax rate in 2021-2023? It is a very dramatic rate increase without any major tax reform.
@TorstenBell @Jennyflower And the NHS and Social Care are desperately unfunded. So where is that money going to come from?
@TorstenBell Why is the burden of taxation so high when personal taxation rates are a lot lower than they were in say the early 1970s? 🤔 I would really appreciate an expert answer!
@TorstenBell Lockdowns aren't gonna pay for themselves I guess
@TorstenBell @RMLLowe Yet the Resolution foundation push for greater spending. These are diametrically opposite