Debt is a big problem, and for Britain in particular. On the map above, we've looked at two things for each of the 19 nations of the G20 (the 20th is the eurozone): the deficit (or surplus), which is the amount a country spends over and above its tax take each year; and the overall national debt as a percentage of GDP.
To give an example of what's considered sustainable, the criteria for joining the eurozone included having a deficit of 3% or less. Many fail this test. (All surplus/deficit figures are from 2012; national debt figures from 2012, or 2011 if asterisked.)
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Frozen thresholds could push ‘tax freedom day’ to latest date this centuryTax freedom day is the point in the year you stop earning for the taxman and start earning for yourself. A rising tax burden could push it to 12 June this year – the latest date since 1982.
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Family left with £20k IHT bill because of out-of-date tax adviceFrozen tax thresholds and dated guidance helped drag the estate into an inheritance tax liability despite extensive use of gifting to avoid a bill
