Tax Increase Predicted by Starmer

This is a news story, published by The Times & The Sunday Times, that relates primarily to Keir Starmer news.

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tax hikes

The Times & The Sunday Times

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You can’t tax your way to stronger economic growth

Summary

Nutrition label

70% Informative

Sir Keir Starmer all but confirmed tax increases in the October 30 budget.

But it would be a surprise if the government went back on its pledge not to increase the main taxes.

Labour inherited the Tory policy of freezing income tax (and national insurance) allowances until 2028 , a sustained big stealth tax on working people.

Tax, meanwhile, was last projected by the OBR to rise to 37.1 per cent of GDP.

Now, it is on the brink of going up further, to a clearer peacetime high.

The government is looking through the wrong end of the telescope.

If the priority is growth, that means growth-generating tax reforms.

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Article tone

informal

Language

English

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