Faisal Islam: We are heading for significant tax rises

Two very different reports have reignited UK economic gloom over the past four days.
Friday's economic figures showed a further monthly dip in UK growth, or GDP, in May. Earlier this week the official forecaster, the Office for Budget Responsibility (OBR), said Britain faced "daunting" risks, including the possibility that levels of government debt could soar to three times the size of the economy.