This great day falls on the 28th May this year. If you are not familiar with this day it represents the day when British taxpayers stop working for the government and start working just for themselves. Here’s the link if you want to trawl a little further:
http://www.taxpayersalliance.com/2020tc/2014/05/happy-tax-freedom-day.html
So every penny of income you earn up to the 28th May in effect goes to the UK government. For nearly five full months of the year that hard earned dosh from the sweat of your brow all goes to funding Her Majesty’s Treasury. At least you keep over half of your gross income, or seven-twelfths to be specific to spend at your own discretion. More tax means less freedom to spend your money as you wish, or less freedom full stop some might say. Some might argue it’s a good thing on average as the spending of some individuals reflects a distinct lack of discretion as to their long term good, the results of whose expenditure may constitute a long term burden on the State. One thinks of lifestyle choices and consequent health problems. Others might argue that the government is far too lax about spending other peoples’ money, we all know how people treat resources that are not specifically owned or earned by themselves.
It may be worth you having a look at the Taxpayers Alliance website just to see how your taxes are being spent, and how profligate government is with your money. This is why it is in all our interests to get taxation down. Do we actually stop and think why the government takes so much money from us in tax and then gives it back in benefits such as tax credits? Apart from funding basic pensions and unemployment benefit, do we need a massive rethink? Why not leave it in peoples’ pockets in the first place and let them spend more of their own money as they wish, rather than the government being the ‘big wise daddy’ who knows better than ourselves how our money should be spent.
One interesting little aside is the amount spent by British taxpayers to the EU. The Daily Telegraph reported in December 2013 that the British contribution to the European budget will climb from £30B to £40B in the next five years. Meanwhile the Full Fact website examining Nigel Farage’s claims about our EU contribution comes to the conclusion that in 2013 after rebates and other receipts have been taken into account, the UK’s net contribution to the EU was £8.6B. Given a UK population estimate of 63, 485, 015 for 2014, this is an annual contribution per capita of about £135, allowing for statistical error. I think I could spend £135 of my own money better than the EU could.