The Chancellor has announced that in 2014 each UK citizen will receive a detailed breakdown of how the Government has spent, or plans to spend, the Tax it has collected. Some have seen this move as early electioneering. Come 2014 it is likely that the UK will have a General Election. That is unless somewhere between now and then this fragile Coalition government falters.
In 2014 a breakdown showing just what is being spent on welfare, and the like, could prove an effective election tool. Again however this blogger wonders what will it cost?
According to the BBC, "The statement 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" However, "The statement will not take account of indirect taxes such as VAT and fuel duty, although ministers are planning an online calculator to show people how much of these taxes they are paying too".
Those proposing this annual tax breakdown say it will give greater transparency. They also maintain that people have a right to know where their taxes are spent. Whilst both statements are true, again we must ask what will be the cost? It will not come cheap. Such new systems never do. Will it offer value for money and a vital service during such austere times? You tell me.