Flashcard Definition
A tax which tends to impose a greater financial burden on the lower earners than on higher earners.
Block Type
Flashcard
Related content:
Effects of taxes and benefits on UK household income - Office for National Statistics
In the financial year ending (FYE) 2021, which covered the first year of the coronavirus pandemic, the median household income in the UK before taxes and benefits was £34,000, increasing to £37,600 after taxes and benefits.
www.ons.gov.uk