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|
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.