Is Britain now the ‘sick man of Europe’?

For many years, Germany has been seen as the 'sick man of Europe.' But with our tax burden steadily rising above that of Germany, the UK could be set to reclaim the title...

"It's official," says The Business. "Great Britain is no longer a low-tax economy." Instead, the British are about to find themselves paying more tax than the Germans.

Figures produced by the Organisation for Economic Co-operation and Development (OECD) show that the UK's tax revenues are set to hit 42.7% of GDP this year, up from 40.7% in 1999. Conversely, Germany's tax burden is due to fall from 46.7% in 1999 to 42.1%.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Simon Wilson’s first career was in book publishing, as an economics editor at Routledge, and as a publisher of non-fiction at Random House, specialising in popular business and management books. While there, he published Customers.com, a bestselling classic of the early days of e-commerce, and The Money or Your Life: Reuniting Work and Joy, an inspirational book that helped inspire its publisher towards a post-corporate, portfolio life.   

Since 2001, he has been a writer for MoneyWeek, a financial copywriter, and a long-time contributing editor at The Week. Simon also works as an actor and corporate trainer; current and past clients include investment banks, the Bank of England, the UK government, several Magic Circle law firms and all of the Big Four accountancy firms. He has a degree in languages (German and Spanish) and social and political sciences from the University of Cambridge.