Britain hikes taxes to save sinking economy

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In a remarkable shift from a mini-budget that just two months ago promised extensive tax cuts, the British government will now impose the highest level of taxation on its citizens since World War II.

New Chancellor of the Exchequer Jeremy Hunt announced £25 billion ($44.3 billion) worth of tax rises, including a five-year freeze in income thresholds that will mean nearly six million people are dragged into higher tax rates.








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