Wealth taxes will be needed to fund a £76bn a year increase in government spending by the end of the decade, caused by an ageing population and more expensive healthcare, a thinktank has said.
The Resolution Foundation said the UK was on course to see the size of the state match that of Germany by 2030, and warned new methods of raising money to pay for higher spending would be needed.
While stressing public spending pressures were nothing new for Britain, the thinktank said previous ways of raising money – such as reducing defence spending and raising national insurance contributions – would no longer be feasible.
£76 Billion a year increase in public spending
No consideration to cutting back and spending less money
Not since Thatcher have we had a real Conservative Government. We're ruled by the left, in Parliament, in the civil service, in schools, in the media, in the police and in the courts
Anyone who still values freedom does not stand a chance
And it's not just this country. The entire western world is going down the same shitpan
If you want to get out, there's nowhere to go
Maybe once all the Africans have move here, there will be a place for us over there...
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