pr

Only days after the CBI Director-General warned Mr Brown that a flood of companies could quit the UK if their tax bills are not cut, the analysis from the influential Organisation for Economic Co-operation and Development turned up the heat on the Chancellor.

*
The OECD’s data showed that Britain’s tax burden jumped by 1.2 percentage points last year, to 37.2 per cent of national income. The rise was only a fraction less than a 1.3 percentage point increase in America, where the overall tax burden is lower, at just 26.8 per cent of GDP.

Some of the sting was drawn from the figures by the OECD’s assessment that buoyant economic growth in Britain and elsewhere was a driving force behind higher tax receipts, boosting incomes and profits.

But the Paris-based think-tank said that the stealthy effect of “fiscal drag”, caused by Mr Brown’s failure to raise tax allowances to keep pace with rising earnings, was also a significant factor.

EQUITYWORK.COM.
BUYSELLENTERPRISE.COM.
SEENATION.COM.
harrismag.com
msn.com
nytimes.com
igetfunding.com
everyforex.com
SONGSOFSHELTER.ORG.
STUDENTSMIXER.COM.
www.slate.com
slate.com
yahoo.com
washingtonpost.com
boston.com
readermag.com
mobilesuper.com


The Treasury emphasised that the UK’s total tax burden remains far below the 39.7 per cent average across the 15 member states of the EU before its recent expansion.

Opposition parties noted, though, that the average tax burden across the 30 rich nations in the OECD was lower than the UK’s, at 35.9 per cent. They also noted that, at 14.3 per cent of GDP, the UK’s burden of taxes on personal incomes and profits was above the EU and OECD averages and those of Britain’s leading competitor countries.

The OECD said a three-year trend of falling tax burdens in rich countries seemed to be over


pr

---

***Note This page is an Archieve of Publicly released information either through our company or another Press Release organization. We do not "fact check", "Support", nor "Dispute" any of the information provided to us. We are a distribution point and Historical press release research and search service. This information only represents the fact that at one point in time the release was distributed to 1000's of publications both online and off. PRNewsNow will not take sides in any personal or commercial disputes you have with the writer of this press release. We will defend its right to exist blindly and without regards to its political, commercial or personal implications.***