| Tax Freedom Day 2008 |
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The UK's Tax Freedom Day fell on June 2 in 2008. That means that average Brits are spending more than five months of the year working for the Chancellor, rather than working for themselves. Government spending is set to reach £600 billion – £10,000 for person in the UK, and twice as much as in 1997. If public spending had only grown in line with inflation since then, we could have abolished income tax, corporation tax, capital gains tax and inheritance tax by now, leaving the taxpayer £200 billion better off. When you factor in government borrowing the picture is even worse – Tax Freedom Day does not come until June 14. Click About the ASI
The Adam Smith Institute is the UK's leading innovator of free-market economic and social policies. Politically independent and non-profit, the Institute promotes its ideas through reports, briefings, events, media appearances, and its website and blog. For further information, click here.Join our email list
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