A survey released by The Marketplace at Bradford & Bingley on Wednesday has revealed that the burden on UK taxpayers is higher than almost anywhere else in Europe.
The study, carried out by the Centre for Economic and Business research on behalf of the financial service provider, compared taxation in the United Kingdom, France, Germany, Spain, and Italy.
It found that individual taxpayers in Britain lose an average 29% of their total income to tax, second only to German taxpayers, who are parted from around 30% of their earnings. At the lower end of the scale, Italians lose some 27% of their income, Spanish citizens 23%, and French taxpayers just an average 22%.
Bradford & Bingley on Wednesday revealed that income and wealth taxes, such as CGT, account for 13% of Britons' gross pay, 15% of the income of French citizens, and a mere 7% of the gross income of Spanish taxpayers. In terms of social contributions, at 16% of total earnings, the British pay less than their German counterparts, but more than double the French.
The study also showed, somewhat alarmingly given the continuing debate on the viability of pension funds in the UK, that British taxpayers save less than any of their European counterparts.
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