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How long before taxes rise in the UK?

Amid speculation that the UK government is on the verge of announcing spending cuts and tax increases totalling around billion there is concern about how quickly these changes could be brought in. Despite the fact that the UK economy has made some progress over the last 12 months there is still concern about the fragile nature of the recovery and recent indicators have confirmed this.

Even though some of the financial policies of the Conservative party and the Liberal Democrat party are very different, they appear to have agreed on short-term public sector investment cuts and tax rises. This gives both parties the ability to save face and also ensure that the vast majority of their MPs stay on side. Neither party has caved in totally regarding financial policies but it looks as though the Conservative party has given more concessions at least in the short-term.

However, there is a warming to the coalition government from the UK public after a period of relative uncertainty as the three main parties underwent extensive talks. David Cameron appears to have hit the ground running and despite his relative inexperience he seems to have won over many of his initial doubters.

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