UK should broaden tax burden as strains on budget grow – IFS

Britain should increase taxes on the self-employed and homeowners, as well as on capital gains, as part of an overhaul to fund more spending on public services and welfare, a leading think tank said on Thursday. British tax revenues are the highest as a share of the economy since the 1940s with employees paying more on their incomes while money made from owning a business or owning wealth has been less penalised, the Institute for Fiscal Studies said. "Better designed taxes would make us more productive, and therefore ultimately richer," IFS deputy director Helen Miller said.