Another big fiscal event for Rishi Sunak today, as he delivered his Budget and the details of a three-year spending review. For the first time, Covid-19 wasn’t in the spotlight. Instead it was framed as a big-spending event, confirming plans briefed before the Budget — £7 billion in capital spending for the NHS, end of the public sector pay freeze — and announcing a series of new plans, including the return of increased foreign aid spending at 0.7 per cent of GDP by 2024-25. But break down the numbers and there are even more surprises in store. Here are the six things we learnt from today’s Budget:
The tax take hits a record high
Tax as a percentage of GDP is heading towards a staggering 70-year high, up from 33.5 per cent pre-pandemic. While the percentage dips slightly in 2022, its trajectory for the medium-term is on the up, climbing to over 36.2

Get Britain's best politics newsletters
Register to get The Spectator's insight and opinion straight to your inbox. You can then read two free articles each week.
Already a subscriber? Log in
Comments
Join the debate for just £1 a month
Be part of the conversation with other Spectator readers by getting your first three months for £3.
UNLOCK ACCESS Just £1 a monthAlready a subscriber? Log in