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From: Denc 🗡
Hoodathunk…. Britain raising taxes at fastest pace in the West IMF forecast puts Britain at odds with other wealthy nations including the US and Germany Labour is raising taxes at the fastest pace in the Western world, according to the International Monetary Fund (IMF). Repeated raids on households and businesses will push Britain’s tax burden to a peacetime high of 41.9pc of gross domestic product (GDP) by the start of the next parliament, new forecasts show. This is up from 38.2pc at the start of 2025, shortly after Labour took power. The rapid increase means UK taxes are on course to rise faster than in any other developed economy. It also puts Britain at odds with other wealthy nations including the US and Germany, which are forecast to cut the burden over the next five years. Even Portugal and Greece, which were bailed out during the eurozone debt crisis, are forecast to gradually reduce their tax burdens over the period. Within the G7 club of rich nations, only France is projected to raise taxes alongside the UK. The IMF’s forecasts came as businesses called on the Government to cut taxes in the Budget on Oct 28 and give employers much-needed “breathing space”.

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Hoodathunk…....[more]	Denc 🗡	23:33:58

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