Figures from the International Monetary Fund (IMF) indicate that the UK's tax burden is projected to rise to 41.9% of gross domestic product (GDP). This increase is expected to occur by the beginning of the next Parliament.
The IMF's assessment suggests that Britain is raising taxes at the fastest rate among G7 nations. This comes as Healey reportedly prepares for further tax hikes, having ruled out additional borrowing to fund Budget giveaways.