Soaring green taxes will slowly bankrupt Britain

Corporate taxes have been hiked. Frozen thresholds have dragged thousands more into higher tax brackets. And of course, there are dozens of other levies, from stamp duty to inheritance taxes that the Chancellor has quietly used to boost Treasury receipts. But there is another tax category that has been rising just as steadily. According to the latest data from the Office for National Statistics (ONS), environmental taxes are hitting fresh records with every year that passes. Few disagree on the need to combat climate change, and green levies can be a tool to change our behaviour. But the blunt truth is this: they have just been turned into another stealth tax by the Exchequer – and that needs to be stopped before it does any more damage to an economy that is already struggling under the weight of an over-mighty state. The UK has been putting up so many levies, and so quickly, that even some tax advisers must be struggling to keep up. The overall tax burden has risen to roughly 40pc of GDP, and is on track to reach its highest level in 70 years. Marginal rates for some people have reached 60 or 70pc. Against that backdrop,...

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