Britain faces tax rises ‘reckoning’ – but not until 2022, senior economist says

Industry News | 09/07/20

A “reckoning in the form of higher taxes” is coming, a senior economist has warned, but said that was not expected to happen until 2022. Paul Johnson, the director of the Institute for Fiscal Studies (IFS), said the UK was facing its “deepest recession in history” and tax rises would be inevitable as a result. He said: “The time to pay for all this will come – but not this year, and not next.”

The autumn Budget is likely to see “more targeted tax cuts”, Mr Johnson said, adding: “Affordability can wait for now.”

Source: The Telegraph