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Labour’s stealth raid on workers to push tax burden to record high
Yahoo Finance· 2026-03-04 00:47
Labour’s stealth raid on workers will drive Britain’s tax burden up to a fresh record high, rising further and faster than previously forecast. Taxes will rake in £1.4tn per year by the start of the next decade, according to the Office for Budget Responsibility (OBR), up from £1.2tn today. That is equivalent to 38.5pc of GDP, up from 36.3pc in this financial year and higher than the 38.3pc predicted by the OBR at the time of Rachel Reeves’s Budget in November. Critically, it is even further above the p ...