Household tax bills to climb by £3k by 2027?

Analysis by the Resolution Foundation suggests the Budget will raise household tax bills by £3,000 on average by 2027, with tax as a share of the economy set to be at its highest level since 1950. This is based on estimates that the tax burden will rise to 36.2% of GDP by 2027. Warning that the UK is in “the midst of its weakest decade for pay growth since the 1930s”, the think-tank said real wages will fall again next year, saying that rising inflation will lead to a “flat recovery for household living standards”.

Financial Times

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