Tuesday, 30 November 2010

In black and white


tax evasion costing the public purse over £15 billion per year and benefit fraud just over £1 billion.

Tax evasion is around 3% of total tax liabilities, while benefit fraud accounts for 0.8% of total benefit expenditure.

In the private sector, the report shows the financial services industry recorded the highest loss to fraudsters, estimated to be £3.8 billion, with £1 billion in mortgage fraud and over £2 billion lost in insurance fraud.

The consumer goods and manufacturing industry are estimated to have lost £1.3 billion and £1 billion respectively.

The figures are there. George Osborne and his ilk cost the economy more than the welfare recipients. Why aren't they being targeted?

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