UK taxes to go to their highest since 1940s says IFS

Here is some UK news via Reuters on analysis of UK PM May's promise to end austerity in the country

And, its not very encouraging for UK tax payers unfortunately

• British taxes would need to rise to their highest since just after World War Two to sustainably meet Prime Minister Theresa May's goal of ending the austerity squeeze on public services

That is according to think tank The Institute for Fiscal Studies (IFS). More from them:

• higher taxes need not hurt the economy
• but May's fragile hold on power, as she attempts to navigate Brexit, made significant increases unlikely in the Oct. 29 budget statement.
• Instead, efforts to lighten Britain's debt burden were the likeliest casualty of May's promise to end austerity, potentially leaving the country vulnerable when the next economic crisis hits.
• "Increasing borrowing is clearly the line of least resistance," IFS director Paul Johnson said. "It's going to be very hard, for all sorts of very obvious reasons, for anything very substantial in terms of tax rises in the short run."

Huh, not much good news in there. Here is the link for more.