Britain’s Tax Paradox: Why Taxes Are At Record Highs But Most Workers Pay Relatively Little

British politics is trapped between two comforting fantasies. We have a fiscal problem. We can’t afford the levels of Government spending that we want within the taxes that we pay. Each side of the political divide has an easy answer to the problem. The first belongs to the right. We are told that Britain’s fiscal … Read more

UK Government Debt and the Budget: What Really Just Happened?

Rachel Reeves debt interest

What happened in the budget? Last week Rachel Reeves delivered the Government’s latest budget. It arrived amid a fog of leaks — some accidental, others clearly not — and a week of breathless speculation about market panic. In reality, there was a modest increase in the interest rate the Government pays on its borrowing. But … Read more