The report shows UK’s Tax Revenue and Total government Spending for the last year.
UK’s Tax collection for the last year shows 28% revenue generated out of income tax, 21% out national insurance,17% and 8% out Value Added Tax and Corporation Tax respectively. Rest 26% comprises of Fuel duty, Business rates and Council Tax with 5% each and Others at 11%.
However, taking into consideration how the UK government spends this income. The major part of this income is spent over pensions at 20 percent. Healthcare and Education 18% and 14% each.7% of the money is spent in defence. It is concurrent a huge part of the UK tax revenue is being spent on pensions and welfare which accumulates 17% of government expenditure. Only 5% of the income is used for protection which includes paying law, police, fire etc.
Uk government spends 3% of the tax revenue over Transport which might include Subways, Trains and Buses. 3% for the government itself, 7 and 6% for other spending and interest payments on debt. To be precise, the major part of UK government income is spent over Pension and Welfare and also healthcare. I think the government should check public opinion over the spend and make necessary amendments, after all it is the general public being taxed to pay the government. The government should spend the income generated out of tax to help UK residents in the best way possible.