Scary, scary, number

So – just to hammer home the point with an outsized mallet – for every pound we earn, the government spends 53 pence of it, leaving us with just 47 pence.

3 thoughts on “Scary, scary, number”

  1. I’m not sure why it’s scary. Obviously it’s a net measure, and excludes transfer payments, so that’s a poor measure of govt control over the economy, e.g I really don’t think if a CBI was set at half income per head and that was the only govt spending you could talk about the state spending 50% of National Income.

    But even if you ignore this, its worth remembering for the majority of people who pay higher rate tax this has long been the position, and (I can vouch) the sky doesn’t fall in.

  2. Actually not quite true.

    For every pound we earn, the government takes 45*pence of it, leaving us with just 55 pence. Sadly, HMG spends 53 pence for every pound we earn leaving a shortfall of 8 pence which our children will have to pay back, someday.

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