By the time of the next general election, taxes will likely have risen to around 37% of national income, according to analysis by the IFS. | ITV National News
The current Parliament will have presided over the biggest set of tax rises since at least the Second World War, experts have said.
But Mr Hunt is likely to face pressure to announce tax cuts, if not in the upcoming autumn statement, then at least before the next nationwide poll. “This is not, for the most part, a direct consequence of the pandemic. Rather, it reflects decisions to increase Government spending, in part driven by demographic change, pressures on the health service, and some unwinding of austerity.
Opposition parties seized on the findings, as Labour said that the Tories had “clobbered” the public. “Brits are working hard but getting clobbered with 25 Tory tax rises and a continuing Conservative premium on their household budgets.”Liberal Democrat Treasury spokesperson Sarah Olney said: “This Conservative Government crashed the economy and is making the public pay the price.
A Treasury spokesperson said: “Despite needing to take the difficult decisions to restore public finances in the face of the dual shocks of the pandemic and Putin’s illegal invasion of Ukraine, the latest data shows our tax burden will remain lower than any major European economy.
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