PM will not rule out tax increase Prime Minister Boris Johnson has not ruled out increasing taxes in a bid to help foot the country’s coronavirus bill. Asked whether taxes could rise, he said: "You know where my instincts are, what I would like to do. They are, of course, to cut taxes wherever you possibly can, but the difficulty we have is that we have a generational challenge now." The PM said: “I remain absolutely determined to ensure that the tax burden, in so far as we possibly can, is reasonable and that we continue to be a dynamic, competitive, open market economy." An increase would go against a Conservative manifesto pledge not to raise income tax, national insurance or VAT.