English Families Will Pay £1 Million In Taxes During Their Lifetime

The average English household will pay more than £1 million in taxes during their lifetime, meaning that they would have to work for eighteen years just to pay off their tax bill.

Research from the campaign group Taxpayers Alliance released on Monday claimed that for households earning the average annual income of £60,194, their lifetime tax bill to the government now stands at £1.1 million.

“With this level of income, it would take more than 18 years just to pay their lifetime tax bill,” the report stated.

The situation is even bleaker for those earning less, who pay proportionally more of their income in taxes. Those in the bottom 20 per cent of earners, who averaged £19,171 of income, will have to work 24 years of their lives to pay their average of £449,860 in lifetime taxes.

Those on the top of the economic ladder with an average of £137,669 in annual income, are forecasted to pay £2,573,815 in direct and indirect taxes during their lifetime, representing 19 years of income.

The chief executive of the group, John O’Connell said: “With the tax burden at a 70 year high, typical families are now tax millionaires. Planned rises, like the national insurance hikes, must be scrapped.”

The report comes just one day after Boris Johnson and Rishi Sunak confirmed the government will press ahead with the planned £12 billion tax rise for National Insurance.