The Institute for Fiscal Studies reports today that this parliament will be the most tax-raising on record. From 2019-20 to 2024-25, tax revenues will increase by 4.2% of the national income, a 30% steeper rate than the next-biggest tax-raising period during Tony Blair’s first term. The IFS report notes “economic developments” have additionally increased tax take, in particular from frozen allowances and stealth tax rises. Inflation is taxation without legislation…

The IFS claims that overall taxation is “middling” when compared to other developed countries but ignores the fact that the UK has increased tax as a proportion of GDP and government spending by more than all major European economies since 2000. Feeding the beast…

Eyebrows will be raised at Tory conference this weekend when Hunt claims that tax cuts are “virtually impossible” while borrowing and inflation are lower than expected. Guido recommends Hunt looks at getting rid of some of the 133,000 new public sector staff hired this year alone…