Tax rise is necessary to pay for healthcare and pensions

Previous generations have received more in state benefits than current tax payers will in the future. A rise in taxation is essential to pay for future pensions. Taxes must rise over £80 billion a year to meet the cost of healthcare and pensions, according to an economic research body. The National Institute of Economic and Social Research (NIESR) reported that a higher tax rate, which would equate to about 6% of GDP, should be set in place to help future generations avoid tax rises and cuts to services.