Faisal Islam: We are heading for significant tax rises

Faisal Islam warns of significant tax rises in the UK as economic gloom looms with declining growth and soaring government debt forecasts. The Office for Budget Responsibility highlights risks and the need for realistic choices, potentially leading to £10-20 billion in tax hikes in the upcoming Budget. Expectations for wealth taxes, property, and inheritance levies are rising, as the government seeks revenue to manage an ageing society's costs without solely burdening working households.