Households are already facing £800 of stealth tax rises over the next four years, economists have warned, even before a possible raid by the Labour Party.
Analysis by the Resolution Foundation shows that hidden post-election tax hikes worth £23bn a year will be locked in by 2028, piling further pressure on households.
A large part of this stems from fiscal drag, as the six-year freeze to income tax and National Insurance thresholds mean workers are expected to pay an extra £9bn a year by 2028 to 2029.
A separate freeze on employer National Insurance will raise a further £2bn.
In spring 2025, a series of major temporary cuts to business rates, fuel duty and stamp duty, which is paid on the purchase of properties in England and Northern Ireland, will also come to an end, bringing the total extra cost to £23bn a year by 2028.
It comes as the issue of tax dominates the election debate, with Rishi Sunak recently accusing Sir Keir Starmer of planning to raise taxes by £2,000 per household. Labour has denied the claims.
Resolution Foundation economist Adam Corlett said: “Politicians should level with the public, and admit that taxes are already set to rise whoever wins the election.
“History tells us that tax rises often come after general elections – and it is already very clear that there is an enormous strain on public services – though this will be made harder if the parties continue to box themselves in on tax changes.”
Figures from the Resolution Foundation, formerly run by current Labour candidate Torsten Bell, show that after the past eight elections, successive governments have raised taxes by an average of £21bn a year.
Stealth taxes alone are already poised to take the national tax burden up to a new post-war high.
Since 2019, the UK tax take has climbed from 33.2pc of GDP to 36.5pc, the highest on record since 1949. This means the average household is paying an extra £3,000 per year in tax.
These tax increases have disproportionately hit businesses and higher earners, while cuts to child benefit payments have reduced cash support for families with children.
Overall, higher earners and families with children have seen the biggest reductions in disposable income since 2010, according to a separate analysis by the Institute for Fiscal Studies (IFS).
The richest 10pc of households have lost £2,100 in disposable income in the last 15 years, while households with children have lost benefits entitlements worth £2,200 per year.
Single earners with children have also been disproportionately hit, as child benefits are based on individual incomes rather than combined household income.
If one parent’s earnings exceed £60,000, the benefits start to be removed.
A single parent with two children on average earnings of £35,000 has lost £5,200 a year in benefits since 2010.
Prime Minister Rishi Sunak has pledged to reform the system so that benefits only start to be removed when combined household income exceeds £120,000.