Story thread · 3 reports / 3 sources

Britain 'taxing itself into death' as Andy Burnham warned against fresh tax raid at Budget

gbnews.com · 8dShare

Andy Burnham and Chancellor John Healey have been issued major warnings as Britain is "taxing itself into death." The criticism comes ahead of the Budget next month where the chancellor will set out his plans for the economy to boost growth. Neither the Prime Minister nor Mr Healey have excluded the possibility of raising taxes in their first fiscal statement. That prospect has drawn fierce opposition from economists, investors and business leaders alike. Senior US economist Arthur Laffer has cautioned that the country is trapped in a "death spiral." Mr Laffer, who has served as an adviser to Ronald Reagan, Bill Clinton and Donald Trump, delivered his stark assessment ahead of a visit to London this week. The prominent economist told The Telegraph: "I have never heard of an economy being taxed into prosperity. What's happening is, Britain is taxing itself into death. "Your problem is not too little revenue. Your problem is too little growth, too little prosperity." TRENDING Stories Vid

First report: Britain 'taxing itself to death' and 'Some Might Stray' — bbc.co.uk, 9d