The charts that show why Reeves has condemned Britain to a low-growth future
1 month, 3 weeks ago

The charts that show why Reeves has condemned Britain to a low-growth future

The Telegraph  

Ms Reeves’s decision to ramp up employers’ National Insurance will not help, as it imposes costs on businesses – which will be less likely to hire workers as a result – and on staff, who can expect smaller wage increases as a result of the policy. The OBR said higher pay growth in the near term would be followed by a dip as employers “pass on the NICs rise, rebuild profit margins, and the temporary boost to demand fades”. Compared with the OBR’s March forecast, real household disposable income per person – a proxy for living standards – is forecast to be lower by the start of 2029 “as real wage growth slows and taxes increase”. The OBR blamed “five trends” for the substantial dip during the middle of the decade, including “a substantial part of the employer NICs increase being passed onto real wages; other tax rises in the Budget; non-labour income easing back to medium-term trends, and a rising state pension age dragging on benefit payments.” The state pension will rise by 4.1pc next April, matching growth in average earnings – under the triple lock, the pension increases by the highest of workers’ pay, inflation or 2.5pc. It expects GDP per capita – often used as a rough guide to living standards – to grow by 1.4pc next year, slowing to around 1pc by the end of the decade.

Growth Pension Age Reeves Britain Obr Rise Living Standards  age  living  future  workers  pension  condemned  rise  expects  real  tax  reeves  charts  growth  britain  obr  lowgrowth

History of this topic

UK economy shrinks again in another blow to Reeves, new figures show
1 week, 3 days ago

UK economy shrinks again in another blow to Reeves, new figures show

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Rachel Reeves said the figures were disappointing “We are determined to deliver economic growth as …

UK economy under Labour stalls - what that means for you and your money
1 month, 1 week ago

UK economy under Labour stalls - what that means for you and your money

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chancellor Rachel Reeves has said …

Job losses and price hikes inevitable, warn UK’s biggest firms in stark message to Rachel Reeves over Budget
1 month, 1 week ago

Job losses and price hikes inevitable, warn UK’s biggest firms in stark message to Rachel Reeves over Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Price hikes and job cuts are inevitable following Labour’s Budget, business …

Reeves unleashes surge in public sector pay rises
1 month, 1 week ago

Reeves unleashes surge in public sector pay rises

The Telegraph  

The CIPD described this as a “post-election bounce back in the public sector”, which also includes a surge in hiring expectations for those in government service. He added: “Improvements to people management capability and technology adoption will be needed to raise efficiency in the public sector to respond to rising demands on services and spending constraints over the longer-term.” ‘Barrier …

Pay growth slumps to near four year low
1 month, 2 weeks ago

Pay growth slumps to near four year low

The Telegraph  

Pay growth has slumped to its lowest pace since February 2021 as bosses warn Rachel Reeves’ Budget tax raid will hit hiring. Permanent wage growth dropped from 52.8 in September to nearly a four-year low of 52.5 in October, just before the Chancellor’s Autumn Statement, according to the KPMG and REC UK Report on Jobs index. Demand for staff fell …

Rachel Reeves driving up prices with tax and spend Budget, warns Bank of England
1 month, 2 weeks ago

Rachel Reeves driving up prices with tax and spend Budget, warns Bank of England

The Telegraph  

In his first assessment of the Chancellor’s maiden Budget, Governor Andrew Bailey said a “substantial” increase in public spending and tax changes that “clearly raise the cost of employment” will drive prices higher over the next three years. It came as shares on Wall Street continued to scale record highs amid expectations of a fresh wave of tax cuts and …

Poorest families left £600 a year worse off by ‘regressive’ Budget, economists warn
1 month, 2 weeks ago

Poorest families left £600 a year worse off by ‘regressive’ Budget, economists warn

The Telegraph  

Stephen Millard, the deputy director for macroeconomic modelling and forecasting at Niesr, said: “The rise in the employer rate of National Insurance contributions will act to reduce job creation over the coming years, which will lead to greater unemployment.” Fresh financial pressures have emerged as households are still reeling from the cost of living crisis – when inflationary pressures disproportionately …

What the Budget means for different ages: From renters and families to the retired
1 month, 3 weeks ago

What the Budget means for different ages: From renters and families to the retired

Daily Mail  

Rachel Reeves's £40 billion tax bonanza will affect the financial wellbeing of millions of households for years to come. Smash-and-grab: Rachel Reeves's £40 billion tax bonanza will affect the financial wellbeing of millions of households for years to come Young workers, renting and first-time buyers First-time buyers could face paying thousands more in stamp duty after Rachel Reeves lowered key …

Chancellor Rachel Reeves finally admits her National Insurance rise will hit working people
1 month, 3 weeks ago

Chancellor Rachel Reeves finally admits her National Insurance rise will hit working people

Daily Mail  

RACHEL Reeves yesterday admitted her bombshell Budget will squeeze the wages of millions of working people. But economists warned that most of her £25 billion raid on employer National Insurance would be passed on to workers through lower wages. Chancellor Rachel Reeves told MPs on Wednesday that she had protected workers by freezing direct taxes on their pay Economists warned …

Britain faces years of ‘muted’ growth after Reeves’ Budget, warns Moody’s
1 month, 3 weeks ago

Britain faces years of ‘muted’ growth after Reeves’ Budget, warns Moody’s

The Telegraph  

Britain faces years of “muted” growth and higher borrowing costs after Rachel Reeves’ maiden Budget, Moody’s has warned. Moody’s also warned that higher spending on infrastructure would only boost growth if ministers successfully tackled issues that have dogged the UK economy for years, such as the worklessness crisis and long planning delays. “We expect growth in our baseline to remain …

Taxes 'are going to be high for 10 years'... and Rachel Reeves may have to come back for more, warns think-tank
1 month, 3 weeks ago

Taxes 'are going to be high for 10 years'... and Rachel Reeves may have to come back for more, warns think-tank

Daily Mail  

Even before the dust has settled on Chancellor Rachel Reeves's Budget, it is becoming increasingly apparent that it will be disastrous for Britain. Imposing tax increases on a scale rarely seen outside of wartime, recession or pandemic, and embarking on a colossal borrowing binge to fund public services, she has taken a huge gamble with the economy. The Chancellor Rachel …

Budget 2024: The chart that reveals the Budget’s real winners – and who will be hit hardest
1 month, 3 weeks ago

Budget 2024: The chart that reveals the Budget’s real winners – and who will be hit hardest

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery According to the Office for …

Taxes will have to rise further despite Reeves’ £40bn tax grab, IFS director warns
1 month, 3 weeks ago

Taxes will have to rise further despite Reeves’ £40bn tax grab, IFS director warns

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Johnson said: “The growth forecasts are pretty awful, there …

Brits will end up being paid less after Labour's Budget, admits Rachel Reeves as she refuses to rule out MORE tax hikes and economists warn growth will be crushed record burden
1 month, 3 weeks ago

Brits will end up being paid less after Labour's Budget, admits Rachel Reeves as she refuses to rule out MORE tax hikes and economists warn growth will be crushed record burden

Daily Mail  

This video is no longer available This video is no longer available Rachel Reeves admitted Brits will see lower wages as a result of her Budget mega-raid today - amid warnings she will be back for more. Rachel Reeves on a visit to a hospital in Coventry with Keir Starmer today after delivering her Budget The OBR said the Budget …

DAILY MAIL COMMENT: This was a painful budget - with worse to come
1 month, 3 weeks ago

DAILY MAIL COMMENT: This was a painful budget - with worse to come

Daily Mail  

There are three kinds of lies, said Mark Twain. In her first Budget, Chancellor Rachel Reeves cynically reneged on those promises with a £40billion tax bombshell. Chancellor Rachel Reeves said the country had 'voted for change' and vowed to 'invest' as she mounts one of the biggest raids in history in the Commons Ms Reeves carried out the traditional photo …

Employers warn of crisis as Reeves increases NI contributions
1 month, 3 weeks ago

Employers warn of crisis as Reeves increases NI contributions

The Telegraph  

Corporate Britain has sounded a warning about hiring freezes and pay cuts after emerging as the biggest loser of a £40bn tax raid. Pubs, restaurants and cafes, which rely on part-time staff, could see their tax bills rise by a collective £1bn as a result of the changes, UKHospitality warned, as firms will have to start paying National Insurance Contributions …

Labour's tax bomb leaves Britons £300 worse off: UK faces highest tax burden ever, businesses are battered by the Budget, wages will fall and inflation will rise
1 month, 3 weeks ago

Labour's tax bomb leaves Britons £300 worse off: UK faces highest tax burden ever, businesses are battered by the Budget, wages will fall and inflation will rise

Daily Mail  

Britain's growth prospects took a dive last night after Rachel Reeves' £40 billion tax bomb. In the first Labour Budget for 14 years, Ms Reeves: Launched a £25 billion raid on employers' National Insurance, breaking a manifesto pledge not to raise a levy she previously called a 'jobs tax'; Announced an immediate £25 billion cash injection for the NHS, despite …

Reeves uses first Budget to hike taxes, increase borrowing and boost spending
1 month, 3 weeks ago

Reeves uses first Budget to hike taxes, increase borrowing and boost spending

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. But despite Labour’s promises to protect “working people”, a …

Reeves goes after employers with young workers the clear winners
1 month, 3 weeks ago

Reeves goes after employers with young workers the clear winners

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chancellor Rachel Reeves took aim …

UK economic growth upgraded this year amid ‘temporary boost’ from spending
1 month, 3 weeks ago

UK economic growth upgraded this year amid ‘temporary boost’ from spending

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy is set …

At a glance: How will the 2024 Autumn Budget affect me?
1 month, 3 weeks ago

At a glance: How will the 2024 Autumn Budget affect me?

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Rachel Reeves announced …

Labour Budget 2024: Ask our chief political commentator anything – from minimum wage rise to inheritance tax
1 month, 3 weeks ago

Labour Budget 2024: Ask our chief political commentator anything – from minimum wage rise to inheritance tax

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Welcome to an …

Rachel Reeves drops £40BILLION 'tax bomb' in Budget: Chancellor hammers firms with £25bn NICs hike as she targets inheritances and landlords in one of biggest EVER raids - but blames the Tories
1 month, 3 weeks ago

Rachel Reeves drops £40BILLION 'tax bomb' in Budget: Chancellor hammers firms with £25bn NICs hike as she targets inheritances and landlords in one of biggest EVER raids - but blames the Tories

Daily Mail  

Rachel Reeves delivered a massive £40billion 'tax bomb' Budget that could define the Labour government today. From then on it will have to be balanced in the third year of the forecast; Employers' national insurance contributions will rise by 1.2 percentage points to 15 per cent in April 2025, and the threshold for paying them will fall from £9,100 per …

Autumn budget 2024 predictions: 8 key things to watch out for in Rachel Reeves’s statement
1 month, 3 weeks ago

Autumn budget 2024 predictions: 8 key things to watch out for in Rachel Reeves’s statement

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rachel Reeves is set to unveil Labour’s first Budget in a …

Millions of working people will suffer from Reeves’s first Budget, warns OBR
1 month, 3 weeks ago

Millions of working people will suffer from Reeves’s first Budget, warns OBR

The Telegraph  

Millions of working people will suffer from Rachel Reeves’ Budget tax raid, the Government’s fiscal watchdog has warned. Workers will pay for 80pc of the Chancellor’s increase in employer National Insurance in the long term through lost wage increases and lower income, according to the Office for Budget Responsibility. Homeowners also face hundreds of pounds more in mortgage bills, with …

Keir Starmer tells Brits they face a 'harsh reality': Prime Minister issues a new tax warning as Labour's Budget is set to batter employers with a major national insurance rise
1 month, 3 weeks ago

Keir Starmer tells Brits they face a 'harsh reality': Prime Minister issues a new tax warning as Labour's Budget is set to batter employers with a major national insurance rise

Daily Mail  

VAT on private school fees and non-dom crackdown - likelihood 10/10 The Labour manifesto committed to scrapping non-dom status, adding VAT to private school fees and increasing stamp duty on buyers from abroad. Employer national insurance - 9/10 Rachel Reeves looks almost certain to increase employer NICs, despite claims it is a 'straightforward breach' of the Labour manifesto. Capital gains …

No tax hike on payslips, vows minister amid confusion over definition of ‘working people’
1 month, 3 weeks ago

No tax hike on payslips, vows minister amid confusion over definition of ‘working people’

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Education Secretary Bridget Phillipson refused repeatedly to say whether a …

Budget to knock £20bn off growth, warns Wall Street bank
1 month, 4 weeks ago

Budget to knock £20bn off growth, warns Wall Street bank

The Telegraph  

Rachel Reeves’s plans to raise taxes and spending in the Budget will wipe £20bn of potential growth from Britain’s economy, a Wall Street bank has warned. Here after a period of increasingly expansionary fiscal and tightening monetary policy, material headwinds now loom.” It comes as Ms Reeves’s “gloomy” rhetoric ahead of the Budget was blamed for a downturn in business …

Britain facing biggest tax rise in G7 even before Reeves’s Budget
2 months ago

Britain facing biggest tax rise in G7 even before Reeves’s Budget

The Telegraph  

The IMF warned that UK debt was on course to keep climbing until the end of the decade, putting it on an unsustainable path. Its chief economist warned this week that rising debt could leave the UK at the “mercy of market pressures” in the absence of a plan to drive it down. The IMF’s latest projections show “general government …

Reeves tax raid risks £84bn black hole in public finances, say Truss-backed economists
2 months ago

Reeves tax raid risks £84bn black hole in public finances, say Truss-backed economists

The Telegraph  

Rachel Reeves has been warned that an aggressive Budget tax raid risks opening up a £84bn “black hole” in the public finances by crippling economic growth. Analysis by the Growth Commission, an economic advisory group set up by Liz Truss, the former prime minister, suggests mooted tax rises in their most extreme form could knock 8.8pc off GDP growth per …

If not on ‘working people’, where will the tax burden fall in Rachel Reeves’s Budget?
2 months ago

If not on ‘working people’, where will the tax burden fall in Rachel Reeves’s Budget?

The Independent  

As Rachel Reeves prepares to unveil her first Budget, a clear picture is emerging of how she intends to raise the money to ensure there is not another wave of austerity. Reeves’s hands are tied, to a certain extent, because of pledges not to raise the current rates of VAT, income tax, national insurance and corporation tax. Rachel Reeves will …

Reeves plans stealth taxes as Starmer prepares to splurge billions on NHS
2 months ago

Reeves plans stealth taxes as Starmer prepares to splurge billions on NHS

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Sir Keir Starmer …

Rachel Reeves to push forward with £3bn sickness benefits cut in Budget
2 months ago

Rachel Reeves to push forward with £3bn sickness benefits cut in Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Asked why Labour was pressing ahead with plans made by …

Businesses, motorists and pension savers brace for Budget bombshell amid fears Rachel Reeves is plotting biggest EVER tax-raising package
2 months ago

Businesses, motorists and pension savers brace for Budget bombshell amid fears Rachel Reeves is plotting biggest EVER tax-raising package

Daily Mail  

Businesses, motorists and pension savers are braced for pain today amid fears Rachel Reeves could deliver one of the biggest ever tax-raising Budgets in a fortnight. Chancellor Rachel Reeves is preparing to unveil an eye-watering £40billion of tax hikes and spending cuts on October 30 Ms Reeves told the meeting that plans to fill what she has branded a '£22billion …

Reeves eyes up to £40bn in tax rises and spending cuts in Budget
2 months, 1 week ago

Reeves eyes up to £40bn in tax rises and spending cuts in Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Institute for Fiscal Studies chief Paul Johnson said that …

Tax rises inevitable as Budget black hole set to persist, says think tank
2 months, 1 week ago

Tax rises inevitable as Budget black hole set to persist, says think tank

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Most of the £22 billion budget gap identified by the …

The proof Reeves will be unable to squeeze the rich
2 months, 1 week ago

The proof Reeves will be unable to squeeze the rich

The Telegraph  

Rachel Reeves’s tax raids are already unravelling. The problem is that these shoulders already bear a significant load, and Treasury officials, who have become increasingly concerned that Labour’s raids will raise little money, are starting to realise that they have options. New figures show that high-earning Britons are already paying more tax on their income for every extra £1 they …

Rachel Reeves' '£25bn tax bomb': IFS warns Chancellor needs massive raid in Budget to balance books after public sector pay splurge - with NICs, pension pots and inheritance under threat
2 months, 1 week ago

Rachel Reeves' '£25bn tax bomb': IFS warns Chancellor needs massive raid in Budget to balance books after public sector pay splurge - with NICs, pension pots and inheritance under threat

Daily Mail  

Rachel Reeves needs a £25billion tax bomb to meet pledges and balance the books after her public sector pay splurge, a grim report warned today. Rachel Reeves needs a £25billion tax bomb to meet pledges and balance the books after her public sector pay splurge, a grim report warned today The grim assessment comes from the respected IFS think-tank as …

Shrinking workforce costing taxpayers £16bn a year
3 months ago

Shrinking workforce costing taxpayers £16bn a year

The Telegraph  

Britain’s worklessness crisis is costing taxpayers £16bn a year through lost tax revenue and an inflated benefits bill, top economists have warned. The Institute for Employment Studies and the Commission on the Future of Employment Support warned that the country’s workforce was shrinking at the fastest rate since the 1980s, leading to a shortfall in employment-related taxes. “The UK is …

Top earners and entrepreneurs already fleeing Britain over tax raids
3 months, 3 weeks ago

Top earners and entrepreneurs already fleeing Britain over tax raids

The Telegraph  

Wealthy individuals and entrepreneurs are already fleeing Britain as fears grow over a raft of tax rises in Rachel Reeves’s first Budget. It comes after Sir Keir Starmer warned last week that those with the “broadest shoulders” would carry the burden of fixing Britain’s ailing public finances. Ceri Vokes, a partner at law firm Withers Worldwide, who works with entrepreneurs …

Wealth Taxes Are the Obvious Revenue Target for Reeves
4 months, 1 week ago

Wealth Taxes Are the Obvious Revenue Target for Reeves

Bloomberg  

It’s a question of when, not if, the UK’s Labour government unfurls the tax increases needed to plug a yawning budget deficit. Chancellor of the Exchequer Rachel Reeves has ruled out higher income or sales taxes, which contribute three-fifths of the total tax take, so it looks inevitable that accumulated wealth will have to be targeted instead. There are areas …

Economic growth revised up sharply in boost for Britain
4 months, 2 weeks ago

Economic growth revised up sharply in boost for Britain

The Telegraph  

The ONS said it now knew the economy was bigger that year because it has richer figures available from annual surveys and administrative data. When factoring in how much the British population grew and the better growth figures, the revisions mean real gross domestic product per head improved marginally at 0.1pc. The ONS also reviewed how much the economy grew …

UK's new Treasury chief says previous government 'covered up' financial turmoil ahead of election
4 months, 3 weeks ago

UK's new Treasury chief says previous government 'covered up' financial turmoil ahead of election

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain’s new Treasury chief is alleging that the previous government covered …

Chancellor Rachel Reeves is expected to reveal £20billion hole in UK's public finances - intensifying fears that hefty Labour tax hikes are on the way
4 months, 3 weeks ago

Chancellor Rachel Reeves is expected to reveal £20billion hole in UK's public finances - intensifying fears that hefty Labour tax hikes are on the way

Daily Mail  

Rachel Reeves is set to reveal a staggering deficit in the public finances of up to £20billion, working up to a significant tax hike this autumn. Rachel Reeves is set to reveal a staggering deficit in the public finances of up to £20billion, working up to a significant tax hike this autumn The Chancellor is expected to implement tax increases …

£10,200: How much worse off Britons are after 14 years of Tory rule
5 months, 3 weeks ago

£10,200: How much worse off Britons are after 14 years of Tory rule

Al Jazeera  

Britons have lost the equivalent 15 weeks of wages based on comparisons with pre-2010 growth trend. UK Prime Minister Rishi Sunak’s Conservatives are widely expected to be deposed by the Labour Party, led by human rights lawyer-turned-prosecutor Keir Starmer, which has for months led the polls by about 20 points. Between 2007 and 2022, the UK’s gross domestic product per …

Reeves refuses to use £28bn figure while defending Labour green plan
10 months, 3 weeks ago

Reeves refuses to use £28bn figure while defending Labour green plan

The Telegraph  

Asked about how she would deal with the “long-term implications” of climate change, she replied: “I totally agree with you that tackling the climate emergency is incredibly important, but so too is securing the good jobs that come from investing in the industries of the future and also the lower bills that will come from investing in renewable home-grown energy. …

Jeremy Hunt’s ‘back to work’ Budget sees pension limits scrapped and free childcare extended
1 year, 9 months ago

Jeremy Hunt’s ‘back to work’ Budget sees pension limits scrapped and free childcare extended

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Jeremy Hunt unveiled rapidly falling inflation, free childcare for toddlers, and …

Budget 2023: Tax burden to hit highest level since Second World War
1 year, 9 months ago

Budget 2023: Tax burden to hit highest level since Second World War

The Telegraph  

Britain's tax burden is on course to hit a new post-war record as Jeremy Hunt reaps billions of pounds more from a raid on workers, investors and businesses, official forecasts show. The Office for Budget Responsibility expects the UK to avoid a recession in 2023 as stronger tax receipts, tumbling energy prices and measures to get people back to work …

Hunt ushers in new era of high tax, big state Britain
2 years, 1 month ago

Hunt ushers in new era of high tax, big state Britain

The Telegraph  

Mr Johnson said that debt interest, which is expected to stay at around £100bn a year, plus higher spending on health and on benefits, “entirely explains the growth in the size of the state over the period from 2019 to the later years of this decade”. “We want low taxes,” Jeremy Hunt said on Thursday, even as he introduced a …

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