Tax expenditures lower the amount of tax revenue that can be used for government spending, whereas government spending directly deducts from the federal budget.
A tax is a legally required fee or economic charge that a government imposes on a person or a business in order to raise money for public projects like building the greatest infrastructure and services. Different public spending programs are then funded with the funds that have been raised.
HMRC collects income tax on the government's behalf. It is employed to assist in financing public services. the National Health Service, education, and welfare programs, as well as funding for public works initiatives like building roads, rails, and homes.
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