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Story summary
- Office for Budget Responsibility (OBR) projects Labour's tax policies push the tax burden to £1.4 trillion by 2030-31.
- OBR says this burden will be 38.5% of GDP, surpassing records.
- OBR forecasts one million pensioners will pay income tax, including 600,000 by 2026-27.
- Critics, including the Liberal Democrats, say these stealth taxes unfairly impact poorer pensioners.
- OBR warns higher taxes could distort activity and unemployment could reach 5.33% in 2026.
