Tax rises? Bring them on as we will all be better off

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The UK is a low tax nation. I point this out because the Institute for Fiscal Studies has said that if we want to balance the budget and end austerity the UK will have to pay 1% more of GDP in tax. Based on Eurostat data this is how we compare in the EU on this issue:

Tax paid as a % of GDP
%
1 Denmark 46.5%
2 France 45.6%
3 Belgium 45.2%
4 Finland 43.9%
5 Austria 43.2%
6 Sweden 43.1%
7 Italy 43.0%
8 Hungary 38.8%
9 Germany 38.4%
10 Netherlands 37.4%
11 Luxembourg 37.2%
12 Croatia 37.1%
13 Slovenia 36.6%
14 Greece 36.6%
15 Portugal 34.4%
16 Czech Republic 34.0%
17 Estonia 33.7%
18 Spain 33.7%
19 Cyprus 33.2%
20 United Kingdom 33.1%
21 Poland 32.4%
22 Malta 32.1%
23 Slovak Republic 32.1%
24 Latvia 30.1%
25 Bulgaria 29.1%
26 Lithuania 28.9%
27 Romania 28.0%
28 Ireland 23.4%

 

We are twentieth. And ignore Ireland: its GDP data is so distorted by being a tax haven even Walt Disney would dismiss it as incredible.

We are also the slowest growing country in the EU.

That is not a coincidence.

Tax rises? Bring them on, I say. We will all be better off.