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Alistair Darling signals higher taxes in the UK

After being subjected to weeks of speculation regarding the finances of the UK and the current Labour governments spend, spend, and spend again policy it has been revealed that the UK taxpayer will eventually need to replenish the country's finances. While this was always going to happen many taxpayers are aggrieved at the fact that they were kept in the dark so long.

If we do see a change of government at the next election it is highly unlikely that the Conservatives would be able to even consider reducing taxes never mind look to increase spending in the UK. The last two weeks have been a major wake-up call for the UK electorate with a change in current policy indicating that we are on the edge of a certain recession and the property market is highly unlikely to improve for some time to come.

As reported yesterday 1.2 million UK homeowners are expected to fall into negative equity which will have a damning effect on the timing of any eventual economic upturn. When you consider this together with today's announcement of a tax rate increase in due course it seems that the UK taxpayer will be paying for recent rescue packages for many years to come.

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