Tax Freedom Day is the day we stop working for the government and start working for ourselves.
The Adam Smith Institute has calculated that Tax Freedom Day 2011 will fall on 30th May, three days later than this year. The increase in VAT to 20% is the main explanation for these extra days.
Tom Clougherty, Executive Director of the ASI, commented:
"Britons are still desperately overtaxed. The fact that we spend almost five months working for the State – and only seven months working for ourselves and our families – is a shocking indictment of big, wasteful government.”
The table below, from the ASI, summarises the last ten years: