Britons won’t start earning for themselves until June 25, the latest date since 1984.
Theoretically, this year’s Tax Freedom Day – the date when we finish paying our tax burden for the year – is May 14, the earliest since 1973.
But the Adam Smith Institute think-tank warns that this does not take into account Gordon Brown’s runaway spending deficit. If that is factored in, Freedom Day does not fall until June 25.
Without Mr Brown’s spending deficit, Tax Freedom Day is early this year because tax revenues have plummeted and VAT has been cut.
The think-tank’s director, Dr Eamonn Butler, said: “Under Brown’s stewardship, the annual deficit went from near-balance in 1998 to more than three per cent in 2007 when the economy was growing strongly.
“Now the Chancellor is forecasting a 13.3 per cent deficit. Young people have the right to feel very angry because they will be carrying the burden for years to come.’’
Published in the Daily Express here
