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When will UK taxes start to rise across the board?

Like a storm brewing offshore, but making its way to the shore, everybody in the UK is well aware that taxes will rise for everybody in the short to medium term but when will it begin?

Even though the recent pre-budget report gave the impression that plans were afoot to reduce the UK budget deficit and the sovereign debt, very few details have been released as yet. There is concern, and the concern is growing, that the UK government has "secret plans" under review which will see the tax burden on all UK businesses and the UK population rise significantly in the short term. However, when can we expect to see the details of these plans?

Unfortunately, the detailed plans of the UK government appear to be locked away until after the general election when no doubt we will hear the same arguments about a "challenging environment" and the need to increase taxes. It is all so predictable at this point in time although the government is hoping, as are the Conservatives (who will also have to increase taxes if they win the election), that voters will back the "party line" at the general election.

Make no mistake, whichever party wins the next general election there will be a need to implement significant public sector investment cuts and also to increase taxes across the board. There is no escape!

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