Calls for cut in foreign aid budget as Britons face huge tax hikes to pay for recovery | Politics | News

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Former Treasury Minister David Gauke has warned that tax increases or spending cuts will be needed to pay for the Chancellor’s “job plan”, which could cost up to £ 30 billion. Express.co.uk conducted an exclusive survey to gauge readers’ feelings as the Institute for Tax Studies (IFS) warned that Britons were facing decades of tax hikes.

When asked, “Would you be in favor of raising taxes to pay for the coronavirus rescue fund?” The readers were divided almost in the middle.However, the majority (53%; 1,475) said they would not be happy to pay more taxes to finance the package.

Forty-five percent (1,373) said they would pay higher taxes to cover the cost of Mr. Sunak’s ambitious plan

Only two percent (58) said they did not know what they thought of the prospect.

Survey finds Express readers divided over prospect of higher taxes (Image: GETTY)

Rishi sunak

Chancellor announced bailout package last week (Image: GETTY)

A total of 2,906 readers participated in the survey between 2:50 p.m. and 9:00 p.m. on Sunday, July 12.

One reader said: “No UK taxpayer should pay more until the ridiculous foreign aid budget is cut and Google, Amazon and others are forced to pay their fair share. ”

A second said that the foreign aid budget should be cut before the most vulnerable Britons are hit with higher taxes.

They wrote, “Let’s start by eliminating all forms of CO2 taxes and all forms of foreign aid before we start making the most vulnerable in our society pay for this Marxist nonsense.” ”

LEARN MORE: Brexit boost! Boris plans massive tax cuts to boost economy

coronavirus

British taxpayers face tax hikes, warned Gauke (Image: GETTY)

Yet another demanded that the government “abandon foreign aid” to pay the bill.

Others have warned of the potentially harmful effects of higher taxes.

They argued that “tax increases will stifle the recovery” in the months and years after the generation crisis.

Angry reader says instead of expecting UK taxpayers to pay the cost of the recovery program, the UK should instead send the bill to China, where the virus was first detected at the end of last year.

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They said, “The only people who should take this bill are those responsible for the epidemic in the first place, plus those who covered it. ”

Those who supported the tax increases called for a fair and equal system.

One person said, “The tax increase must affect ALL people, not just those who have worked hard and paid taxes to be able to buy their own house, car, etc.”

“Those who live in social / affordable housing must also contribute. “

Rishi sunak

Sunak was appointed chancellor in a cabinet reshuffle earlier this year (Image: GETTY)

DAVID GAUKE

David Gauke left the Commons last year (Image: GETTY)

The IFS said the country could face decades of tax hikes to fix its finances, adding that dealing with the pandemic’s high debt would be a task “not only for the current chancellor, but also for many of his successors ”.

Gauke, who left the House of Commons last year, wrote in the Observer that “tax increases will have to do most of the work” when the government tries to balance the books.

He said that spending pledges would increase public debt beyond the size of the UK economy and that the “political challenge” of raising taxes by the required amount would be “immense”.

delivered

IFS warns of long-term consequences for economy following pandemic (Image: GETTY)

He wrote: “Unlike the situation in 2010, it is difficult to see that there are substantial savings to be made in public spending.

“The only obvious exception is the triple locking of pensions – if wages stagnate (or even fall) and inflation is negligible, it would be an act of intergenerational injustice to increase the state pension by 2.5 %.

“To give an indication of the magnitude of the commitment, an increase of £ 40 billion would be equivalent to a 7p increase in the basic income tax rate or a 6% increase in the normal rate of VAT. “



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