The term ‘fair share of tax’ has entered the lexicon of political language in the UK in recent years and we hear it regularly when matters of tax policy come up for discussion. We often hear the demand ‘pay your fair share’ directed at our wealthy citizens (especially those fabled billionaires) with a generous dollop of indignation as if the accuser has somehow been wronged.
But what is a ‘fair share’ of tax in the UK? How do you calculate it? Who is actually paying it?
The answer may surprise you.
Expenditure per adult
A recent briefing from the Centre for Policy Studies used figures from departmental budgets the Office for Budget Responsibility and the Office for National Statistics to show that by next year public spending will equate to £24 095 for every UK adult in the country. That’s an astonishing...
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