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Tax and sin - what next?

Last weekend the Financial Times published a graph showing how tax receipts had grown over the last 15 years from so called sin duties (tax on wine, spirits, cider, beer, gambling and tobacco).
What is interesting is how tax receipts have grown over the years despite huge increases in the rates of tax charged.

LOUIS XIV'S FINANCE minister, Jean-Baptiste Colbert, famously declared that "the art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing."

The government seems to have found with "sin taxes" a goose that doesn't hiss.

Let's hope that he doesn't start to tax other "sins"! After all "sex work" adds more than £5bn a year to the UK economy. Some of this will already be taxed but George Osborne is after all desperate for money! :-)


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