Shift towards higher taxes and spending is here to stay

Far from reducing the tax burden, the Chancellor is set to preside over the biggest tax share of GDP since 1949 under Clement Attlee's post-war Labour government. So if Rishi Sunak wants to be remembered as a tax-cutting Chancellor, he seems to be going in the wrong direction! As a result, it is clear that some of the shift towards a bigger state after the pandemic is here to stay.

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