‘Years’ of tax hikes are now on the cards as WEF-linked Prime Minister Rishi Sunak attempts to shore up the UK’s floundering finances.
Ordinary Britons are now facing “years” of major tax hikes under Rishi Sunak’s Conservative Party, a source from inside the UK treasury has claimed, with the WEF-linked Prime Minister keen to take desperate measures to maintain and expand big government in Britain.
The massive tax hikes are reportedly seen as required by UK ministers, who have long warned that such hikes are necessary as a result of their massive spending during Britain’s on-and-off lockdowns over the last two years resulting in the country building up a massive deficit. Huge energy subsidy programs this winter are due to exacerbate the problem.
Now, with a reported £50 billion (~$58 billion) financial hole in the UK budget, both Sunak and his Chancellor of the Exchequer, Jeremy Hunt, now aim to see taxes raised across the board.
According to a report by The Guardian, the government is planning “stealth” income tax increases for the general public, in a move that has been justified via reference to pandemic-era borrowing.
“It is going to be rough,” a source from inside the UK’s treasury reportedly told the department.
“The truth is that everybody will need to contribute more in tax if we are to maintain public services,” they continued. “After borrowing hundreds of billions of pounds through Covid-19 and implementing massive energy bills support, we won’t be able to fill the fiscal black hole through spending cuts alone.”
UK Tax Burden to Hit Highest Levels Since 1940s, Chancellor Hunt Eyes £25bn in Hikes https://t.co/PFR6nqfv6t
— Breitbart London (@BreitbartLondon) October 30, 2022
Although the hikes are likely to only inflict further misery on wide swathes of the British public who are already struggling to make ends meet during the ongoing energy and cost of living crises, Conservative Party bigwigs have long been warning that such tax hikes are necessary as a result of their pandemic spending sprees.
According to Bloomberg, the UK government is thought to have spent an extra £376 billion (~$435 billion) during the last two years of Britain’s on-and-off again COVID lockdowns, with many senior tories having repeatedly said that their massive pandemic spending would eventually have to be paid for.
Interestingly enough, however, while previous administrations had largely attempted to reduce budget deficits by lowering operating costs, the Sunak administration appears hell-bent on maintaining big government operations within the UK, with officials instead aiming for taxpayers to pick up the costs instead.
For example, in the wake of the 2008 recession, then-Chancellor George Osbourne was reported as filling 80 per cent of the holes in the budget with cost-cutting while sorting the remaining balance with tax increases.
However, under the remit of Chancellor Hunt, the UK is reportedly planning on getting higher taxation to carry half the burden of the budget deficits, with savings in big government operating costs to only account for 50 per cent of the £50 billion needed to balance the state’s books.
Boris Doubles Down on Tax Rises, ‘Absolutely Vital’ to Take More to Pay for Covid Policies https://t.co/weCJTAqKwq
— Breitbart London (@BreitbartLondon) January 27, 2022
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