Personal taxes paid by Britons surged a remarkable 11.45 per cent this financial year, an average increase of over £800 per household, a report claims, underlining the punishing cash-grab underway with the government proceeding with open and ‘stealth’ tax rises.
The British government has seen a considerable increase in the amount of tax it has been able to take this financial year, analysis of government figures suggests, showing tax receipts of all kinds are up by ten per cent year-on-year.
Some taxes, the report by British Conservative Party-adjacent newspaper The Daily Telegraph — which despite where its loyalties lie may actually be trying to shame the Conservative government into cutting taxes, with a slew of recent reports on how badly rises are clobbering families — have risen even faster than that. Among them are personal taxes — including the two income taxes, capital gains tax, and inheritance tax — which are up 11.45 per cent in the period studied.
According to the newspaper’s analysis, that increased take averaged between all 28.1 million households in the United Kingdom means a typical family’s tax bill was up a staggering £821 ($1,001) in a year. Things will get worse, the paper notes, due to the government’s crushing decision to weaponize inflation against taxpayers until 2028.
This is a process known as fiscal drag, where cash-value thresholds for tax bands are frozen during periods of high inflation — and lower earners see their pay packets grow in purely numerary terms until they stray into punishment-band taxes originally introduced years back to penalise high earners.
At this point, the real value or purchasing power of a typical earner’s salary has been eroded by inflation, and it is then cut away again as the government takes an even bigger share of what’s left.
This process has been going on many years, of course. Breitbart London reported in 2014 on the shocking phenomenon of upper-working and lower-middle-class jobs like police officer and school teacher being hit with high-rate bands introduced decades earlier to tax the rich, but had never been meaningfully revised.
Taxes are, broadly, now at the highest level since the 1940s, when the country was paying for the herculean effort to hold its corner in a world war against Nazism and fascism in Europe, and Japanese imperialism in the Pacific.
While this extraordinary and historic burden on taxpayers today has left many believing the country deserves a tax cut, the Conservative Party government has made clear it has other priorities, and residents should not hope for relief any time soon.
Yet if the Conservative government wanted indications that its taxes were too high, it need not look too far from home. On Sunday, the government’s former Chancellor of the Exchequer (finance minister), who went on to become the Chairman of the Conservative Party, was fired after his own tax irregularities became public knowledge.