Report: Britain overtaxing the young

Taxpayers ages 18 to 34 are handing over almost half their incomes

UPI | Oct 30, 2007

LONDON, Oct. 30 (UPI) — A report by a conservative organization blames high taxes in Britain for stifling initiative among young people.

The group Reform said taxpayers ages 18 to 34 are handing over almost half their incomes to pay for benefits for the older generation, The Daily Telegraph reported.

”The Ipod generation has been reduced to galley slaves in the public spending empire of the baby boomers,” said Nick Bosanquet, an expert on health policy at Imperial College, London, and a consultant to Reform. “The government is in the process of mortgaging the future of a generation.”

The group said government spending has risen from 41.6 percent of gross domestic product to 45.1 percent since Labor gained control of Parliament in 1997. During the same period, the percentage fell from 48.3 percent to 44.3 percent in Germany.

Reform also blamed Conservatives in Parliament, saying they have pledged to match Labor spending on health and education.