23 Hrs
Source:
The Guardian
Thinktank recommends funding defence via middle earners' tax hike
The Resolution Foundation has advised that to fund increased defence spending and meet Labour’s goal of devoting 3.5% of GDP to defense by 2035, the UK may need to raise taxes on middle earners. Despite recent tax increases, the UK’s "tax wedge" remains low compared to international peers, suggesting higher tax rates on average workers may be necessary to support increased public spending. Healey, set to present a budget in October, aims to find £1.4 billion annually over three years for defence investments.
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