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Who will be the first to show their hand regarding increased taxes?

As we approach the general election we have seen many different announcements and strategies from the mainstream political parties. However, one issue which many are trying to avoid in the short term is the eventual certain increase in taxes in the UK which are likely to come in as soon as the new government is in office. So who will crack first and show their hand regarding future UK taxation?

The likes of the Labour Party and the Conservative Party have tended to tiptoe around the issue of taxes as much as they can in order not to alienate voters at this critical time in the political cycle. However, all parties are well aware that an increase in UK taxes is required to replenish the government coffers and reduce the national debt which has skyrocketed over the last two years. The Labour Party looks as though it will increase the tax liabilities of high earners in the UK while the Conservative Party would probably look to spread the increase across society, possibly by reducing public sector investment more than the Labour Party.

In many ways we will only see the "real policies" of the Labour Party or the Conservative Party once they are in office but unfortunately it will then be too late for UK voters to change their minds!

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