The Big Question: what’s next for tax in the UK?

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Prime Minister Sir Keir Starmer this week signalled the country should brace itself for “painful” tax rises in October’s Budget to close a £22bn shortfall in the public finances, stating that “those with the broadest shoulders” would be most affected by the planned changes.

His comments mark Labour’s strongest signal yet that it plans to increase the tax burden after weeks of emphasising the scale of the fiscal black hole. 

Labour has ruled out rises in income tax, VAT and national insurance, which account for the majority of government revenue, but that still leaves potential increases in inheritance tax, capital gains tax, or for reforms to tax relief on pensions.

What do you think? Should the government raise personal taxes to plug the gap in the economy, or leave them as they are? And if they do raise taxes, which ones should they target? Tell us your views by voting in our poll or writing in the comments section below.