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Now the scale of these rises has been thrown into sharp relief by the public’s advocate think tank the Tax Payers’ Alliance, which catalogued every tax change since May 2010. Changes to tax levels took place a remarkable 1,651 times in that period but remarkably considering Conservative promises, 1,034 or 63 per cent of those were actually rises. In all tax has gone up, on average, once every three days for over a decade, the Daily Telegraphcalculates. Underlining the disconnect between Conservative rhetoric and Conservative delivery, the TPA noted: The 2019 Conservative manifesto promised that “Conservatives want to give you freedom – low taxes, opportunity, the chance to realise your dreams.” Yet under the current Conservative prime minister, the sustained tax burden will reach a 70 year high. ....
1 Feb 2021 The burden on the British taxpayer has hit levels not seen in 70 years, yet the Treasury secretary is considering tax hikes to make up for the massive budget shortfalls incurred during the Chinese coronavirus crisis and the ensuing lockdowns. Chancellor of the Exchequer Rishi Sunak is reportedly mulling tax hikes in response to soaring government debt, which have already reached 100 per cent of GDP. The new debt, largely incurred through furlough payments to workers forced to stay at home, could rise above £400 billion this year. The Chancellor is said to be considering increasing the capital gains tax from 20 per cent to up to 45 per cent, an increase on fuel duties, and raising corporation tax from 19 to 24 per cent a raid on individuals and businesses to pay for the government’s coronavirus lockdown spending spree. ....