Wow - Labour’s own costings document shows net tax rises of £8.5 billion in 2028-29.
— Tom Harwood (@tomhfh) June 13, 2024
Add that to current OBR forecast, and tax as a share of GDP rises to 37.4%.
That’s higher than 1948 record of 37.2%, 2022/3 burden of 36.3%, or 2023/4 burden of 36%.
The highest in history.
This of course doesn't take account of other tax rises coming with a Labour administration eg:
- Council tax revaluations
- Pension fund raids
- Increased green levies on energy bills to pay for their ludicrous net zero policies.
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