Taxman grabs 30 per cent more from Brits over last five years

The amount of money the taxman takes away from Brits has climbed 30 per cent over the last five years, City A.M. analysis of official figures shows.

by | 23 Nov, 2022

In the year to 31 October this year, HMRC collected £757bn in taxes, up from £584bn in 2015/16, stats out this week reveal.

The rise in tax revenues has been driven by the government needing to generate more cash to pay for a steady increase in public spending, mainly on health to deal with an ageing society and to cushion the economic blow from the Covid-19 crisis with packages such as the furlough scheme.

Read more at City A.M.

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