Pensions Archives - No Bull Politics

From Temporary Measure to Permanent Burden: How Income Tax and the Size of the UK State Have Grown Over Time

Before the World Wars, Britain had no income tax and a government spending less than 10% of GDP. Today, the tax burden is far higher, with public spending around 45% of GDP. This article explores how temporary wartime taxes became permanent—and what it means for the future of the UK state.

5 July 202593 Views Defence, Education, government, health, History, Innovation, law, Pensions, Sustainability, Taxation, UK, War, WWII 0 Comments

Economics Politics

The Hidden Cost of Taxing Pension Contributions: A Ticking Fiscal Time Bomb

The Chancellor’s proposal to tax employer pension contributions could severely reduce future retirement savings, amplifying the impact through the loss of compounding growth. In 10 to 20 years, this may result in poorer pensioners and a greater burden on the state for social care and support—trading short-term fiscal gains for long-term social costs.

30 September 2024215 Views Economics, government, Growth, media, Pensions, Politics, Security, Sustainability 0 Comments