For immediate release
Responding to Rachel Reeves’ first budget as chancellor of the exchequer, John O’Connell, chief executive of the TaxPayers’ Alliance, said:
"We were consistently told that there was no need for big tax hikes because of a focus on growth, so taxpayers will be disgusted by the whoops and cheers of Labour MPs celebrating the fact that Rachel Reeves has just condemned the country to a record high tax burden.
"Given wider global uncertainties the stakes are incredibly high, yet we've doubled down on disastrous managerialism and decline. That means growth will flatline over the next five years, which is unsurprising given the assault on aspiration and wealth creation we've just witnessed.
"If the government ever wants to regain the trust of taxpayers it will need to rapidly find a way to halt the growing tax burden."
Responding to the increase in employer national insurance contributions, John O’Connell, chief executive of the TaxPayers’ Alliance, said:
“This astonishing hike in national insurance contributions for employers will decimate businesses up and down the country.
“And despite what the chancellor may claim, the grim reality is that the cost of this will ultimately be borne by working people through lower salaries.
“Labour should be apologising for what is clearly a manifesto breach that will do huge harm to taxpayers.”
TPA spokespeople are available for live and pre-recorded broadcast interviews via 07795 084 113 (no texts)
Media contact:
William Yarwood
Media Campaign Manager, TaxPayers' Alliance
[email protected]
24-hour media hotline: 07795 084 113 (no texts)
Notes to editors:
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Founded in 2004 by Matthew Elliott and Andrew Allum, the TaxPayers' Alliance (TPA) campaigns to reform taxes and public services, cut waste and speak up for British taxpayers. Find out more at www.taxpayersalliance.com.
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TaxPayers' Alliance's research council.
- The TaxPayers’ Alliance will shortly be releasing dynamic modelling of the impact of these tax changes, which will forecast the impact on GDP, growth and wages