Legal News
Employees to Receive Details of Tax Spending Under New Proposals (27 January 2012)
Date: 27/01/2012
According to proposals from a Conservative MP, taxpayers could be set to receive a breakdown of the amount of revenue spent on public services, personalised according to their income. Ben Gummer, who proposed the idea, will present the idea to the Commons. The proposals are likely to be support by the Conservatives, as it may help to enhance support for the Coalition Government’s funding reductions to public services. Mr. Gummer, who is an MP for Ipswich, has told of how it is time that the public knew where their taxes went. Chancellor George Osborne has reported expressed interest in the idea.
A simulated form of the tax breakdown proposes that an employee earning a yearly average income of £26,000 will be met with a national insurance contribution and income tax bill of £6,134. Of this amount, £2,135 is spent on benefits and pensions and £1,109 is put towards the NHS’s funds. Education takes up just £835 of the yearly funds while £335 is offered to the Armed Forces and £159 to the police. Overseas aid, meanwhile, accounts for £60.
Mr. Gummer believes that it is wrong for taxpayers to be presented with a breakdown of their household bills but not their tax bills, particularly as a tax bill is the majority of workers’ largest single monthly payment. Mr. Gummer believes that the Government should be forced to inform taxpayers of the way in which their money is spent.
Duncan Lewis’ employment law solicitors are highly experienced and skilled solicitors, dedicated to providing their clients with prompt and practical legal advice.