Episode
Tax Revenue Surges Amid Fiscal Drag
- Published
- Jun 18, 2026
- Duration seconds
- 123
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Summary
Tax receipts hit a record $863 billion this fiscal year, up 3.5% — driven largely by fiscal drag pushing more earners into higher brackets, soaring stamp duty from second-home surcharges, and a spike in VAT as spending climbed. Income tax jumped $23 billion, stamp duty surged 23.6% ($3 billion extra), and VAT added $13 billion. Meanwhile, corporation tax and fuel duty climbed, while National Insurance dipped slightly — all amid fresh scrutiny over government accounting and local authority audit failures. Support the show: Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN: [email protected] This is an automated, high-level news summary based on public reporting. Report issues to [email protected]. View sources & latest updates: https://sources.thednn.ai/a55532bed8f91c10