Britain’s tax burden is heading towards its highest level since the Second World War.
Shadow Chancellor Mel Stride explains what Tax Freedom Day tells us about how much tax people really pay, why the tax burden keeps rising, and why simply “taxing the rich” won’t solve the problem.
Mel also sets out the Conservative plan, including £50 billion of identified savings put to work through the Golden Economic Rule, which would put half of every pound saved towards reducing the deficit and half towards growing the economy.
That means getting spending under control so taxes can come down, including abolishing Stamp Duty on family homes, introducing a £5,000 First Job Bonus for young people, and scrapping business rates for thousands of high street businesses.
