Burnham Set to Hit Households With £25bn Tax Raid, Economists Warn – NATIONAL NEWS

Burnham should go on a 'cost of doing business' tour

An alarming note from one of the City’s top economists warns that October’s Budget could see taxes rise by almost the same amount as they did last year when Rachel Reeves cooked up £26bn worth of fresh hikes. Ruth Gregory, Deputy Chief UK Economist at Capital Economics, suggests that higher taxes “perhaps worth up to 0.8 per cent of GDP may do the heavy lifting in funding Prime Minister Burnham’s policy ambitions.” Unsurprisingly, none of the po…

'John Healey’s next tax grab is madness – even Rachel Reeves wasn’t so unhinged'

Chancellor John Healey desperately needs to hike taxes to fund Andy Burnham's spending pledges.

Burnham Set to Hit Households With £25bn Tax Raid, Economists Warn – NATIONAL NEWS

Pensioners and entrepreneurs face the sharpest squeeze as Capital Economics warns of a Budget almost as big as Reeves’s last. Chancellor John Healey will deliver his first Budget on Wednesday 28 October, nearly a month earlier than Rachel Reeves’s last outing at No. 11, and City economists are warning it could bring a fresh round of tax rises rivalling the £26 billion package Reeves unveiled last November. Capital Economics, in research reported…