Dramatic tax increases are in store for hard-pressed British workers under Tory or Labour regimes as the Government deficit — driven by the wars, immigration, bank bailouts and foreign aid which both parties endorse — continues to balloon by a shocking £3 billion every week.

Gordon Brown’s promise to halve the deficit — made in the Queen’s Speech last week — is mission impossible under the status quo, an economist speaking to BNP News said.

“The Tories, who support identical polices to that of Labour, will also not be able to address the deficit,” the economist said.

“Britain is rapidly falling behind other European countries, Japan and America who have already broken their recessionary cycles,” he said.

“They have been able to do this because they do not face the same domestic pressures which have put intolerable pressures on Britain’s economy.”

He identified these pressures as “artificially created strains” such as the £13 billion plus per year spent financing the immigration and asylum swindle, the £8 billion foreign aid budget, the £7 billion per year war in Afghanistan and legacy debt from the war in Iraq, and the billions spent bailing out the banks.

“The bank bailout is unprecedented in British economic history and could well have been the straw which has broken the camel’s back,” the economist said.

The state’s empty coffers mean that the Government has to continually borrow more just to keep its infrastructure running. Official Treasury figures show that state borrowing increased in October by a record £11.4 billion.

At these rates, Britain is on course for a record budget deficit of more than £200 billion before the end of this year.

As the Tories support all of the policy positions held by the Labour Party which caused the financial crisis — immigration, the foreign wars, foreign aid and the bank bailout — voters will not receive any comfort from that party, the economist warned.

“Tax increases are therefore inevitable if any of the Tweedle-Dee Tweedle-Dum parties are elected into power,” he said.

“To make matters worse, the de-industrialisation of Britain which the Tories started and Labour has nearly completed, has denuded our country of the manufacturing base which is the only platform upon which a true recovery can be based.

“Only the British National Party has the protectionist economic policies which can recreate the powerhouse that was Britain,” he concluded.