Tax revenues will keep going up over the next 50 years until they hit a rate of 41.6%, according to the government's own figures, The Times writes
The paper says the figures were burried in 2mm high size letters in an obscure document attached to the recent Pre-Budget Report, titles Long Term Public Finance Report: an Analysis of Fiscal Sustainability. ”It revealed that taxes as a proportion of national income will rise from 38.4 per cent this year to 40.5 per cent in 2026 and up to 41.6 per cent in 2056, if current policies are continued,” the paper writes ”The report also made clear that taxes will have to rise even more than planned, or spending be cut back, if the Government’s hopes of keeping the national debt below 40 per ...
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