Block TypeFlashcardFlashcard DefinitionThe process of shifting income, through tax and benefits, from richer to poorer households.💡Related content: Effects of taxes and benefits on UK household income - Office for National StatisticsIn 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
