Can't grow UK economy through regressive tax policies.
Richest fifth pay 31% of gross household income in direct taxes; poorest fifth,14%.
Richest fifth pay 9% of income in indirect taxes; poorest fifth, 28%.
The poorest pay higher proportion of income in tax.
https://leftfootforward.org/2025/01/labour-hasnt-delivered-growth-or-happiness-it-needs-an-economic-reset/
Richest fifth pay 31% of gross household income in direct taxes; poorest fifth,14%.
Richest fifth pay 9% of income in indirect taxes; poorest fifth, 28%.
The poorest pay higher proportion of income in tax.
https://leftfootforward.org/2025/01/labour-hasnt-delivered-growth-or-happiness-it-needs-an-economic-reset/
Comments
There is a massive asymmetry between corporate and personal taxation.
Why do we not tax the change in *wealth* for individuals?
Like I said, different packaging, same party