專欄稅收

Government should come with a clear price tag

One should always be careful about suggesting ideas for simplifying any aspect of government policy. What is a simplification for one person is a complication for another. A policy that is simple at the receiving end may require untold work for harassed and under-appreciated civil servants. Unfortunately the UK personal tax system has reached such levels of incomprehensibility that this risk must be taken.

Most people know that income tax does not raise nearly enough to pay for public spending and that much revenue is raised by indirect taxes, both value added tax and the so-called sumptuary taxes on supposedly disreputable items such as drink and tobacco. But it would still be nice to know how much of a person’s income is taxed away before the pay packet is opened.

This is far more complicated than it need be for at least two reasons. One is the government habit of announcing policies in terms of changes without giving the starting point. This is a habit I have complained about before and does not only apply to personal tax. The other reason, which is specific to the fiscal system, relates to the way in which tax rates are stated.

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