Mortgage News
Osborne to set out plans for tax breakdown statements
Chancellor George Osborne is to set out plans in tomorrow’s Budget to give 20m people a detailed breakdown of how their taxes are spent.
The plan, to be introduced in 2014, will set out how much people pay in direct taxes such as national insurance and income tax, outlining proportions used for education, health and welfare, reports the BBC.
However, the statements will not take account of indirect taxes such as VAT and fuel duty.
The move is part of attempts, first announced last November, to make the tax system more transparent.
