Friday May 29, 2020

Tax take drops to alarming levels

The most recent exchequer figures might have prompted the government to call an emergency budget, but the state’s tax returns have been in free-fall for more than a year

7th March, 2009

Another month, another set of grim exchequer figures. This time, however, the numbers were so bleak that the government was forced into immediate remedial action, and a new budget is now set to be unveiled within weeks.

The latest tax return figures, released last Tuesday, revealed an ever-growing hole in the national purse, with all forms of taxation revenue falling sharply. Even excise duty, one of the government’s ‘old reliables’, was down by a third....

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