How the election could hit YOUR tax bill: Chart shows how Labour’s plans would take burden to highest level EVER – even if there aren’t any secret raids – while Greens could rake in an extra 130bn [Video]

11:49 EDT 14 Jun 2024, updated 12:10 EDT 14 Jun 2024

The potential impact of the election on voters’ wallets is becoming clearer after a week of manifesto launches.

The Tories, Labour, the Lib Dems and the Greens have all unveiled their pitches to Brits with under three weeks until July 4.

But with only Reform’s package due Monday, so far none of the proposals would see the tax burden decline.

The Tories’ pledged £17billion in cuts – including 2p off headline NICs and abolishing the levy altogether for the self-employed. 

However, according to calculations by the respected IFS think-tank that was not enough to stop the burden from increasing. 

It would reach just over 37 per cent of GDP by 2028-29, mainly driven by the long-running freeze on thresholds dragging people deeper into the system.

Labour’s plan, including £8.5billion of tax hikes, would take the level to 37.4 per cent – above the previous record high set in …