UK faces 20 years of tax rises
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UK faces 20 years of tax rises

posted in Tax by Phillip Harris on 08:23 Jul 4th, 2018

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 IFS chief says UK faces 20 years of tax rises

The head of the Institute for Fiscal Studies has said UK taxpayers should brace themselves for long-term tax hikes to maintain health and social care spending over the next twenty years. Paul Johnson said the pledge from the Government to boost NHS spending by £20bn will have to come from taxation, as relying on long-term borrowing would not be sustainable for government finances. He added that tax rises would have to be brought in over the next two decades and services restricted unless economic growth and productivity levels pick up considerably. Mr Johnson also said the tax gap cannot be funded, as Labour has proposed, purely from “extremely rich people and Google”.

Source:   The Daily Telegraph (28/06/2018)

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