UK restrained by one of the highest tax burdens in G8

 
Ben Southwood
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BRITAIN’S tax burden is too high, driving tax avoidance and inhibiting economic growth, according to research published today.

Accounting firm UHY Hacker Young warns that the UK is in danger of “losing jobs and investment to overseas competitors” with its total tax burden of 34 per cent of GDP.

This compares to reported burdens of 23 per cent for Japan, 24 per cent for the USA, and 29 per cent for the G8 group of developed nations as a whole.

However the leeway for reducing the tax burden is currently limited – according to the Heritage Foundation government spending makes up some 51 per cent of GDP.