Tax burden reaches new heights

Ernst & Young has calculated that the tax burden will be 37.6% of gross domestic product this year, close to the 37.7% peak reached in the early 1980’s.

Next year it will reach 37.8%, before rising to 38.1%, Ernst & Young said, basing its figures on official Treasury numbers.

Tax revenues will total £490bn compared to £271bn when Brown delivered his first Budget speech 10 years ago.

What are the chances of a tax cut in this week’s Budget speech? Don’t hold your breath.