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New Research Highlights Levels of Tax Confusion and Ignorance

New research reveals that tax is the primary issue that we feel could influence our vote in the upcoming election yet we do not completely understand the tax policies of main political parties
Finance - 21 April 2010   Download IconContent available for download:  
Audio | Interview with Glen Collins, Head of Advisory Services at the Association of Chartered Certified Accountants| Login to Download

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  News Hooks:

New research reveals that tax is the primary issue that we feel could influence our vote in the upcoming election (42.5%) with public services ranking second (34%).

80% of people do not have a complete understanding regarding the tax policies of main political parties and admit that their knowledge is either vague or that they feel completely in the dark.

Only 17% of people are aware of exactly what services their tax pays for and just a quarter (25.3%) believe that we’re currently getting good value for the tax we pay.

. Introduction:

The election is a great time for highlighting important concerns and getting our politicians to take notice. New research reveals that tax is the main issue that we feel could influence our vote this May. Despite this, there is a clear lack of understanding when it comes to how our taxes are spent. The majority of us admit that our comprehension of the main political parties’ tax policies is either vague or that we feel completely in the dark. What is clear is that few of us feel that we genuinely get good value for money on public services.

Why is there so much confusion around this subject when we consider it so important?

Joining us in the studio is Glen Collins, Head of Advisory Services at the Association of Chartered Certified Accountants (ACCA).

. Suggested Questions:

What is the level of understanding in our area regarding the main political parties’ tax policies?

How do people in our area feel about how their taxes are spent?

Why is tax such an important issue and why is there so much confusion surrounding how much we pay and where it goes?

What impact could a change of government realistically have on the amount of tax we pay?

Why do we need to improve our understanding of tax issues?

Where can we find out more information?