Economics -
Taxes 3
Hard-working
Brits have been stung by 60 stealth tax rises
since Gordon Brown became Chancellor, say the
Tories. Cigarettes and booze have gone through
the roof, holiday flight taxes are sky-high
— and even dying now costs more.
Labour’s tax burden is so high Brits spent
the first 153 days of the year working for the
Government rather than themselves. Yesterday was
Tax Freedom Day — the date we actually begin
earning for ourselves. And Shadow Treasury
Minister Maurice Saatchi introduced a House of
Lords bill which seeks to mark the day with a
Bank Holiday every year — so the nation can
celebrate. Here’s a guide to some of the
sneaky ways in which Labour grabs your cash.
DEATH DUTY: Inheritance Tax
thresholds have been virtually frozen, leaving
1.5million families with a huge bill when a loved
one dies. Mr Brown has left the basic threshold
at £255,000 — up from £250,000. Only half
a million people had properties worth £250,000
in 1997 but that figure has trebled to 1.5million
since.
MIRAS AXED: Mr Brown scrapped
mortgage tax relief in 1999 spelling misery for
millions of homeowners.
STAMP DUTY: The cost of buying a
house has rocketed for millions as stamp duty has
risen. Anyone buying a house costing between
£250,000 and £500,000 must now stump up 3 per
cent of the overall price up front.
COUNCIL TAX: In 1997/98, the average
band D council tax bill in England was £689. In
2003/04, it is £1,102, a 60 per cent hike.
PENSIONS TAX: The Chancellor ordered
an astonishing raid on pension schemes in his
first year netting £5billion. He has also axed
tax relief on private health insurance premiums.
HOLIDAY TAX: Airport duties have
rocketed under Labour — slapping up to £100
on the cost of family holidays.
CIGS AND BOOZE: Tax on 20 cigarettes has
gone up every year under Labour, adding £1.02 on
a carton. Wine and beer has also risen under the
Chancellor.
MARRIED COUPLE’S
ALLOWANCE: The Chancellor abolished this tax
break in 1999 in a move costing couples £2,000 a
year.
TRANSPORT: Motorists fork out a
staggering £45billion a year. VAT on new cars and duty on petrol combine to
make drivers the Chancellor’s cash cows.
INCOME TAX: Allowances have been
frozen meaning more of our earnings are taxed.
National Insurance has gone up by 1p for workers
and employer.
Taxes have soared by a whopping £133.5billion
since Tony Blair came to power in 1997. That
amounts to £2,269 for every man, woman and
child, or £43.50 a week. Labour promised no
income tax rises when they were elected. But they
have still sent overall taxes rising from
£270billion then to £400billion today.
Britain’s bosses backed the Tory campaign
for a national holiday, to be known as
Independence Day, to mark the end of tax paying
each year.
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