Personal taxes paid by Britons surged a remarkable 11.45% this financial year.
, where cash-value thresholds for tax bands are frozen during periods of high inflation — and lower earners see their pay packets grow in purely numerary terms until they stray into punishment-band taxes originally introduced years back to penalise high earners.
At this point, the real value or purchasing power of a typical earner’s salary has been eroded by inflation, and it is then cut away again as the government takes an even bigger share of what’s left.in 2014 on the shocking phenomenon of upper-working and lower-middle-class jobs like police officer and school teacher being hit with high-rate bands introduced decades earlier to tax the rich, but had never been meaningfully revised.
While this extraordinary and historic burden on taxpayers today has left many believing the country deserves a tax cut, the Conservative Party government has made clear it has other priorities, and residentsYet if the Conservative government wanted indications that its taxes were too high, it need not look too far from home.
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