20/03/2012

Your Tax Statement

NewspapersTaxpayers are to be given a detailed annual breakdown of how much they contribute to the Exchequer and how it is spent by the Government, under plans to be unveiled in the Budget.

Good idea. It will basically be a letter saying, "Your money is being spent on a team to work out what the money is being spent on. Enjoy."

It's thought the plan will be brought in to make it easier for the politicians to persuade voters of the need for public spending cuts. They will be saying, "Look at all the money you're spending. Wouldn't you like to spend less money?"

It will show that welfare payments make up about a third of all tax spending. But what it won't show is a list of all the things you get because your money goes to welfare. It won't list things like "not getting burgled by someone who's desperate and can't afford to feed their family". It won't list "not having the streets filled with groups of children begging". And they won't list the best thing you get from the welfare state, "The Jeremy Kyle Show".

According to Treasury calculations based on current taxes, someone earning £50,000 would be informed that their taxes will fund £4,727 worth of welfare payments, including £493 of housing benefit annually and £860 in sickness benefits.

But that's for someone earning 50k. With what I earn I'll get a letter saying, "If you want to know what we spent your tax money on, check the front of this envelope... it all went on that stamp!"

>Read the source story
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