People are paying more tax but seeing public services cut, says thinktank
The UK remains on track for a “disastrous decade” of stagnant incomes and high taxes, despite cuts to public services, the Resolution Foundation said in its analysis of the budget on Wednesday.
While the chancellor had announced an “impressively broad suite of policies” to encourage more people into work, he was unable to change the course of“Britain’s economy remains stuck in a deep funk – with people supported into work but getting poorer, and paying more tax but seeing public services cut,” the report said.
It said taxes as a share of GDP were on track to hit 37.7% by the end of the forecast, a 70-year-high and a 4.7% increase since 2019-20, the equivalent to nearly an extra £4,200 for every UK household.
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