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Parliamentary committee calls on UK government to account for tax giveaways

News Team, 22/07/2020

The UK government knows too little about the tax reliefs it provides: whether they work, or offer value for money, or even how much they actually cost, according to a new report from the Public Accounts Committee (PAC) published this week (Monday 20 July 2020).

The ten most expensive UK tax reliefs cost the public purse £117 billion a year - equivalent to giving up around 5 percent of GDP in foregone tax revenues.  But the government’s own evaluation shows that only one of the four reliefs costing more than £1 billion a year has the intended effect on economic behaviour.

Among the most expensive, pension relief...


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