Identical posts shared widely on social media make a number of inaccurate claims about the UK’s public finances.

The posts list several taxes, and claim that “Not one of these taxes existed 60 years ago”.

This isn’t correct. Sixty years ago, in 1966, several of the taxes listed were collected in the UK, including income tax.

A number of these taxes have been levied in some form for much longer, but not necessarily under the name listed—for example, forms of what we now refer to as inheritance tax have existed under various names for centuries.

Some of the taxes are also named incorrectly—for example G.S.T (Goods and Service Tax) is called Value Added Tax (VAT) in the UK—or fall under others already listed (for example, “tax on dining out” would fall under VAT).

Join 73,000 newsletter subscribers who trust us to check the facts

Sign up to get weekly updates on politics, immigration, health and more.

Subscribe to weekly email newsletters from Full Fact for updates on politics, immigration, health and more. Our fact checks are free to read but not to produce, so you will also get occasional emails about fundraising and other ways you can help. You can unsubscribe at any time. For more information about how we use your data see our Privacy Policy.

The posts also claim that 60 years ago “We had absolutely no national debt.” This isn’t true either. Although the UK’s national debt was lower as a percentage of GDP in 1966 than current levels (93.8% in 2025/26), it still stood at ...

Read Full Story: https://news.google.com/rss/articles/CBMigwFBVV95cUxNV0xWSExQMFNwRWpMcmZBaEVt...