The Labour Party recently released the 'Tory Tax Calculator' to inform voters about the financial impact of the Conservative government's tax policies. The calculator allows individuals to determine how much they will be paying in taxes after the national insurance reduction. Labour asserts that despite the announced national insurance cut, families are projected to be £1,200 worse off annually due to the government's taxation plans. The Institute for Fiscal Studies and the Office for Budget Responsibility have both echoed concerns that the national insurance cut will not be enough to prevent this from being the largest tax-raising parliament in modern times. Since the 2019 election, there have been 25 tax hikes, with the tax burden reaching the highest level on record.