Summary
People pay taxes, which are used by the government to fund various public services. Taxes help support things like healthcare, education, and infrastructure.
Key Facts
- Taxes are payments made by individuals and businesses to the government.
- Governments use these funds to pay for services like healthcare, schools, and road maintenance.
- Taxes help support the economy by funding public sector jobs and services.
- The budget for how tax money is spent is planned in advance, such as with the Budget 2025.
- Taxes can be different types, such as income tax, sales tax, and property tax.
- The UK economy relies on taxes as a source of government revenue.
