|The cost of your open-ended virus holiday: TAX RISES
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|Author:||Westonman [ Thu May 14, 2020 10:28 am ]|
|Post subject:||The cost of your open-ended virus holiday: TAX RISES|
Will all those voices calling for a 'lockdown' and free money for not working, live to regret their demands? I can foresee death duties, property taxes, motoring and travel taxes, and green taxes, sky-rocketing very soon, but never mind, few lives were actually saved by the 'lockdown', the lockdown that shows no signs of ending any time soon.
https://www.breitbart.com/europe/2020/0 ... ses-loom/#
A confidential Treasury Department document that was seen by the British newspaper The Telegraph labelled “Official – market sensitive”, claimed that the under the “base case scenario” the government is now expecting a £337 billion budget deficit this year, up from the £55 billion that was projected in the March budget.
Under the worst-case scenario, the government projects that the deficit could rise to as high as £516 billion with a five year budget hit of £1.19 trillion.
The document advised Chancellor of the Exchequer, Rishi Sunak, to cut public spending and increase taxes, to raise £25 billion and £30 billion per year in order to “stabilise debts” — a move that would go against the 2019 Conservative Party general election manifesto, which promised to not raise taxes.
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