Partner Article

Government launch tax and spending calculator

A new online service has been launched by the Government to allow people to check how their income tax and national insurance is being spent.

The move is part of a wider drive to improve the transparency of Government finances, and will be available via apps downloaded to smart phones and on the HM Revenue & Customs website.

However, Labour said that the system does not include VAT or recent changes to tax credits and child benefits.

From 2014-15 every taxpayer will be sent a statement detailing exactly how much tax and national insurance they paid and how it had been spent. It will be broken down into categories including welfare, health, education, defence and the repayment of Government debt.

David Gauke, Exchequer Secretary to the Treasury said: “We think it is right that people know how much tax they pay and what the government spends it on.

This was posted in Bdaily's Members' News section by Ruth Mitchell .