Disposable Income

When Labour came to power in 1997, people were left with 34.5% of their gross income after taxes, national insurance, mortgage or rent. Now it\’s 32.6%.

That\’s Zoe Williams.

She then goes off to talk about house prices, food and so on. The one thing she doesn\’t mention is that the tax burden has changed: no, I\’ve not got the figures in front of me but I\’m certain that the drop in disposable income can be explained by the rise in the average tax bill.

2 comments on “Disposable Income

  1. Sure, average tax burden must have risen because taxes have risen by a couple of % of GDP, it’s as simple as that.

    More to the point, this land value boom (values up at least 1,000%) is a text book asset price/credit bubble that will be pored over by economists for decades to come (a bit like the Dutch and their tulip bulbs way back when) and this is totally 100% Nulab’s fault.

    Fred Harrison and others told them at the time the way to prevent these cycles was Land Value Tax, did they listen? Did they heck.

  2. We discussed this idiotic and stupid survey here, and basically decided it was nonsensical. In fact Andrew Duffin pointed out that if you accept the survey’s figures (you shouldn’t) it shows that disposable income rose from £12k to £17 a year, another 100 pounds a week.

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