Pandemic rescue could end with higher taxes
The Telegraph’s Tom Rees talks to experts about how Rishi Sunak will claw back some of the cash spent on keeping the country afloat during the coronavirus pandemic. Torsten Bell, chief executive of the Resolution Foundation, says the big economic debate “will be how much and which taxes to increase”.
Chris Sanger, head of tax policy at EY, warns: “It is only in the major three taxes that you are going to generate significant revenues that are going to result in paying back the large amounts of money that has been spent. When you have got two thirds of total revenue in income tax, national insurance and VAT those are clearly the areas that are going to have to do the heaviest lifting.”