Britain’s tax burden is rising faster than in any other Western economy, according to forecasts from the International Monetary Fund that put it on course for a peacetime high of 41.9 per cent of GDP by the start of the next parliament.
That is up from 38.2 per cent at the start of 2025, shortly after Labour took power, and puts UK taxes on course to rise faster than in any other developed economy.
The US and Germany are both forecast to reduce their tax burdens over the next five years, as are Portugal and Greece, which were bailed out during the eurozone debt crisis. Within the G7, France is the only other country projected to raise taxes.
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