British voters expect tax increases after election

Most British voters anticipate tax increases following the UK general election, regardless of whether the Conservatives or Labour emerge victorious on July 4. This expectation persists despite efforts by both parties to downplay the likelihood of tax hikes.

An Ipsos poll for the Financial Times revealed that 56 percent of voters expect Sir Keir Starmer’s Labour Party to raise taxes, while 52 percent believe the same of Prime Minister Rishi Sunak’s Conservatives.

These findings reflect public skepticism about both parties’ pledges not to raise the three major levies—income tax, national insurance, and VAT—that generate a significant portion of government revenue.

Leading economists have cautioned that the election winner will face the challenge of managing the UK’s strained government finances and intense pressure on public services, making it difficult to avoid increasing revenue and even more challenging to reduce taxes.

via FT