GDP vs Taxable Income

I'd like someone to review how the provision of public services has been sufficiently sustained between 1985 and 2016 with unfaltering population growth, yet no apparent increase in taxable income rates. With a demographic consisting of a high saturation of elderly people, requiring a greater proportion of healthcare and social services, how have we been able to increase and improve our provisions. Furthermore, how is this sustainable in the future with the current enconomical state? Our GDP has increased sevenfold since 1995 and we market ourselves as an ideal place for business yet capitalise little on what is available, which seems pointless in terms of public service provision. Even a nominal percentage tax increase would provide valuable funding for stretched public services without scaring off investors.

Why the contribution is important

Because public services are being stretched further than ever before, and sustaining provision and keeping up with modern technology and services to residents with population increase seems like an impossible task. We readily have moneys available on-island to fund this and yet are too scared to ask those at at the top of the tax scale.

by Manxandloud on April 11, 2017 at 10:55AM

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