When he fought his way to the top last autumn, British Prime Minister Rishi Sunak pledged to have economic knowledge. Businesses in Britain believe he needs a refresher. See the rising uprising against the enormous tax rises that Mr. Sunak and the chancellor, Jeremy Hunt, concocted.
In their spring fiscal announcement, Messrs. Sunak and Hunt promise to stick to the budget revisions they made in November. They want to soak the middle class by freezing tax brackets until 2028 so that inflation drags households into higher tax rates before their standard of living improves. To achieve this, they want to increase the top corporate tax rate from 19% to 25%, lower the threshold for the top 45% personal income-tax rate from £150,000 to £125,140, and raise the top rate of personal income tax from 0% to 12% from 0%