![]() In fact, it all effectively goes into the same pot for general expenditure - though our confusion is often rather convenient for politicians.ĥ. Many of us still think that National Insurance pays exclusively for our pensions and health. National Insurance and Income Tax are actually paying for the same things So the two Peters agree, but will our frontbench politicians? Watch this debate run and run.Ĥ. Peter Mandelson agrees that the problem with the benefit is that it gives "a reasonably significant amount of money" to people who don't need it. Peter Stringfellow tells me he was horrified to find he was getting an extra £200. Peters Stringfellow and Mandelson Agree on Something…īoth think that Winter Fuel Allowance - the benefit the government currently pays to all pensioners at this time of year to help with their fuel bills - should be changed. That's because there's been a shift of resources away from areas like defence, and towards the welfare state in its broadest sense, which has been happening for decades - under both Labour and the Tories.ģ. ![]() Back in 1978-9 that figure was 45% (source: IFS). Together, they took up 60% of the total spending pie in 2010-11. Public spending is increasingly dominated by three big spending areas: social security, health and education. The Big Three Are Taking a Growing Share of Your Money It's not perfect, but it does give us a fascinating insight into whether we're net winners or losers.Ģ. Our tax and spend calculator can't give you an exact account of your individual circumstances, but it will give you a ballpark figure of what households like yours pay in tax, and get back in benefits and services. The top 10% of households contribute, on average, five times more than they get back. Some 60% of households are net recipients from the Treasury - though it may not always feel that way. We've also produced a list of things you (probably) never knew about your money and how they spend it: To whet your appetite, the BBC has produced a tax calculator to show what people like you pay in tax and get back in the form of government spending. That's what I've discovered making a two part series for BBC Two called Your Money And How They Spend It, which is airing at 9pm on the next two Wednesdays. If you happen to know how much of your money the government spends on debt interest or defence you are not one of millions, but one in a million. That's also the case if you don't know how much tax you pay, what the difference is between income tax or national insurance or what has VAT on it and what doesn't - even though the sums involved are much more significant. If you collect those coupons that give you discounts - then you are like millions of others. ![]() If you look for three for two offers in the supermarket. If you spend hours worrying whether you've got the best mobile phone tariff. Nick Robinson explains how the tax take is split across the whole population ![]()
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