Sunday, April 25, 2010
The ONS info is confirming many other people's previous predictions: that UK national debt could treble; making things worse is that as debt increases the tax receipts are falling*, down 11% in January. Click on image to enlarge (PDF) the excellent graphic in The Guardian.
* Burning Our Money has numerous blogposts on tax: just for info, four years ago (!!!) they estimated Britain's losses just to tax fraud and evasion are currently within the range £60-80bn every year. OK, I know that isn't entirely relevant re the reasons for current falls in tax receipts but it does highlight a major part of the overall problem. Paul, I know you're one of those mentioning falling tax receipts but I couldn't find a relevant blogpost (I did look!)!
Posted by Span Ows at 9:45 am