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When will UK taxes start to rise again?

As the UK economy shows definitive signs of recovery, we will move into countdown mode in due course with regards to an increase in both direct and indirect taxes in the UK. While the Conservative party has until now been a little more open than the Labour Party, with regards to taxation and tax increases in 2010, 2011 and 2012 there is no definitive answer as to when rates will start to rise.

It will be a very interesting and very difficult balancing act because ultimately if rates are increased too soon it could kill any recovery in the UK economy and if they rise too late this could fuel inflation and cause more problems for the UK economy in the longer term. Even though the Bank of England has seen similar situations in years gone by, it is proving more and more difficult to judge and forecast the direction of the UK economy with so many reports giving very different views.

However, there is no doubt whatsoever that both direct and indirect tax rates will increase in the short to medium term, but by how much and exactly when this will occur are the only two variables currently unknown.

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