Every taxpayer is to get a personal annual statement revealing how each pound taken from them by the Revenue is spent.George Osborne will announce the radical move in tomorrow’s Budget, saying every worker has the right to know how their taxes are spent once the money enters the public purse.
In some cases, the results are likely to prove startling.
A higher-rate taxpayer earning £50,000 this year would be told they paid £14,183 in tax and National Insurance – of which around a third, £4,727.67, is spent on welfare.
At the same time, £2,469.68 is spent on health, £1,848.73 on education, £818.52 on defence and £705.62 on public order and safety. A further £141.12 is given to foreign aid and £70.56 is handed to the EU. Read More
