Tax Rise Bonanza, is it Crashing Stocks?

uk tax to gdp march 2021 scaled

The United Kingdom is to pay the highest level of tax to GDP in nearly a century as Rishi Sunak, the new Chancellor, opens the debate on what’s the best way forward now that the recovery is in sight. In yet another sign of the complete collapse of the two party system, Labour has not one criticism of the proposal of the chancellor laid down in the budget. In awkward interviews labour politicians have been cornered to silence, as Sunak maneuvers this Brexit Britain out of 2020. It is left to the Guardian to shout that Sunak is engaging in “a £65bn raid on household incomes and company profits.” Yet it is being done somewhat skillfully, with the Chancellor just freezing the tax threshold so that it doesn’t keep up with inflation, meaning technically most will pay 1% or 2% more but it’s just loses on potential gains rather than…

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