Tax Freedom Day calculations feature in The Sunday Telegraph
The Adam Smith Institute's Tax Freedom Day calculations featured in the Sunday Telegraph:
The burden of taxation has fallen more heavily on Britons this year, despite the Government spending less.
Tax Freedom Day - the point at which the average person stops paying tax, and can start earning for themselves - falls on Sunday, a day later than last year.
The symbolic milestone reflects the growing share of our incomes that is paid to the Treasury as tax.
The Adam Smith Institute (ASI), which calculates when the day falls in the UK, said that the later date serves as a reminder that “the Government needs to make tax cuts a priority in this parliament”.
Tax Freedom Day also featured in several online Telegraph articles, which included a Tax Freedom Day calculator that allows you to calculate when you are free from income tax.
The ASI calculates Tax Freedom Day by measuring local taxes, direct and indirect national taxes, and national insurance contributions as a proportion of the UK’s net national income (41.2% per cent in 2015), mapping that proportion onto the days of the year.
Tax Freedom Day figures are not available up-to-date for calendar years so they are proxied from government and OBR forecasts and financial year numbers. They are then revised when exact numbers become available.
Click here for more information on previous Tax Freedom Days and Cost of Government Days.