Tax burden to rise by more this parliament than any other during peacetime, IFS says

Former prime minister Liz Truss told the Telegraph: “This unprecedentedly high tax burden is one of the reasons that the British economy is stagnating and why we need to cut taxes to help make Britain grow again.” Taxes have soared since the last election as a result of a stealth raid through frozen thresholds and new levies on businesses. Mr Zaranko said: “Rather than reverse those tax rises or partially undo them they’re just allowing them to raise much more than they initially thought.” The IFS said the decisions to increase taxes were partially driven by an ageing population, efforts to address NHS waiting lists and the reversal of some austerity policies. Even if the Chancellor succumbed to pressure to cut tax, Mr Zaranko said “it looks nailed on to be the biggest tax-raising parliament since at least the Second World War.” Mr Hunt has already said tax cuts are “virtually impossible”. Douglas McWilliams, the economist co-chairing the Growth Commission and who previously advised George Osborne, said however that pre-election tax cuts would be “a bit like death bed repentance; not entirely convincing.” Mr McWilliams said Boris Johnson’s “fiscal incontinence” and Sunak’s reluctance to “pick a fight with the civil service” had led to “a very high spending government”.