UK Tax Burden Rises Post-Budget

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tax burden

iNews (Indonesia)

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How do UK tax burdens compare to other countries in the G7?

Summary

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88% Informative

Tax as a share of GDP will rise from 36.4% of GDP this year to 38.2% by 2029-30 , according to the Office for Budget Responsibility (OBR) This increase is driven mainly by personal taxes boosted by frozen income tax thresholds and rises in employer national insurance (NI) contributions introduced in the Budget .

The UK 's tax burden is currently below the average of the 38 nations in the Organisation for Economic Co-operation and Development ( OECD ) and the G7 .

Satisfaction with public services in the US trailed behind other G7 countries in 2023 , the OECD found. Only 45 per cent and 64 per cent of those in the US said they are satisfied with its judicial and educational systems, respectively, compared to 67 per cent and 72 per cent in the UK . In contrast to the UK ’s national healthcare system, the US does not provide universal coverage, leaving 7.9 per cent of people in the US without health insurance in 2022 for the entire calendar year ..