Key UK Tax Rates Explained I UK Economy Revision

Understanding key UK tax rates is essential for analysing fiscal policy and government revenue. In this short video, we examine the structure of income tax bands, National Insurance contributions, VAT and corporation tax. You’ll explore how the UK uses progressive direct taxes alongside indirect taxes such as VAT, and how these affect incentives, inequality and government finances. We also explain the concept of the tax burden, with the UK tax-to-GDP ratio estimated at around 37%, the highest in decades - an important statistic for macro exam answers. #UKTaxRates #ALevelEconomics