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Episode 5
How or what should we tax? The amount of tax the UK Government raises as a percentage of GDP is 34%. Is this too high? Too low? Who should bear the burden of taxation? And is a system that was developed decades ago fit for our new working world?
It’s a divisive topic. Philip Booth from the Institute of Economic Affairs thinks it should be lower – much lower, James Meadway, author and former chief economist the New Economics Foundation thinks it could go higher and Paul Johnson from the Organisation for Economic Co-operation and Development says it’s highly unlikely that we will avoid tax increases. Added to this is the need for our complex tax system to be simplified, says Kathryn Cearns – people need to know what they’re paying, why and where it goes. After all, our perception of government spending can affect people’s behaviour, including how they vote.
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