Families will enter next election paying £3,500 more in tax than the last, study claims
FAMILIES will enter the next election paying £3,500 more in tax than the last, a study claims.
The five years since 2019 is set to see the biggest rise in the burden since World War Two.
A total of £100billion more tax is being clawed in by the Treasury than when Boris Johnson went to the polls in 2019.
The research by the Institute for Fiscal Studies will worry Rishi Sunak ahead of next year’s General Election.
IFS economist Ben Zaranko said: “It looks nailed on to be the biggest tax raising parliament since at least the Second World War.”
Successive Tory governments have whacked up tax following Covid.
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This followed Chancellor Jeremy Hunt insisting that cutting taxes now is “virtually impossible” — despite borrowing being below official forecasts.
The Chancellor dampened prospects of a giveaway in November’s Autumn Statement, even though borrowing was £11.6billion — below the expected £13billion.
Labour’s shadow treasury minister Darren Jones said last night: “Brits are working hard but getting clobbered.”