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When will the UK government chance increasing taxes?

As UK national debt continues to creep higher and is expected to reach £1 trillion over the next two years there is an acknowledgement that UK taxes will need to rise substantially in years to come. While we have seen the introduction of a number of indirect taxes it will be changes to income tax and VAT which will dictate the way ahead and the timing of tax increases in the UK. So when will Gordon Brown take the chance of upsetting the consumer?

There is no chance that Gordon Brown will bring in any substantial taxes to hit the masses between now and the next general election which is forecast in 2010. However after 2010 whichever government is in power will need to increase taxes substantially in the UK to replenish the government budget. Whether this is a Labour government or a Conservative government remains to be seen but whoever is in power will no doubt receive massive criticism as and when these taxe rises are implemented.

Many blame Gordon Brown's scorched earth policy and his spend spend spend strategy which has seen UK debt mushroom over the last few months. However, to be fair to the UK government there were very few options open to them as the recession continues to bite further.

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