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Rachel Reeves will preside over £36bn of tax rises in a single week as part of a record raid on businesses and households.

A combination of the National Insurance increase, a freeze on income tax thresholds and a rise in stamp duty have all contributed to the “damaging” levies that will come into force from next week.

Businesses have called the tax raid one of “the most devastating in living memory”, while the Tories have warned of the drain on growth.

It comes as the Chancellor prepares to deliver her Spring Statement on Wednesday, which is expected to see Britain’s growth downgraded sharply.

Andrew Griffith, the shadow business secretary, said: “There’s no amount of preparation to help anyone be ready for the £36bn tidal wave of tax and similar increases breaking over the heads of businesses and households next week.

“This Government doesn’t understand that growth only comes from the productive private sector – not by taxing and regulating more.”

Mel Stride, the shadow chancellor, added: “Labour said they wouldn’t raise taxes for working people. They broke that promise. The Chancellor’s reckless tax rises are a ticking timebomb, and unless she takes immediate action in today’s emergency Budget, it’s businesses and hard-working families who will pay the price.”

Ms Reeves revealed in her Budget that taxes will rise by £40bn per year by the end of this parliament, a record increase.

However, Telegraph analysis of Treasury, OBR and HMRC documents shows that taxes due to go up next week will raise £36bn in the 2025-26 tax year alone.

That includes measures announced in October, as well as the legacy of Conservative decisions which Ms Reeves has chosen to preside over including the freeze to income tax thresholds - the stealth tax known as fiscal drag.

Kate Nicholls, chief executive of UKHospitality, said: “The additional annual costs being levelled upon hospitality businesses are among the most devastating in recent memory – hitting businesses and workers alike.

“Without urgent action in the Spring Statement, we will see hospitality businesses forced to cancel investment, reduce hours available for stuff, increase prices and, in the worst-case scenario, cut jobs.”

As part of her Budget, Ms Reeves is raising the rate of employer National Insurance from 13.8pc to 15pc and lowering the threshold at which it kicks in from £9,100 per year to just £5,000, dragging more part-time workers into the levy.

The move is set to raise almost £24bn in the coming tax year, although it has shattered business confidence.

Surveys from the Bank of England indicate more than half of bosses expect to employ fewer workers because of the increase, while more than 60pc plan to raise their prices to offset some of the cost.

The £36bn will also include a near-half billion increase in the windfall tax, £415m in higher vehicle excise duty and an additional £250m by charging a higher interest rate on overdue tax bills.

Tougher action from HMRC is also expected to generate a further £1bn, while higher council tax rates will extract an additional £2bn from households.

That is alongside revenues from inflated stamp duty rates and the continued freeze on income tax and NIC thresholds, which will raise an extra £6bn in the coming year.

The numbers do not include other costs set to be imposed on companies, such as the 6.7pc increase in the National Living Wage.

Analysts warned the rising tax burden, which is at its highest level since the Second World War, is sapping growth.

Darwin Friend, head of research at the TaxPayers’ Alliance, said: “Next week’s wave of tax rises will place a significant burden on hard-working families and businesses.

“Labour argues that they want to grow the economy and yet have no answer when confronted about how damaging these tax hikes will be.

“The Chancellor needs to prioritise tax reform to ease the cost of living and support economic growth.”

Anna Leach, chief economist at the Institute of Directors, added: “We have already seen hiring stall, with price rises, weaker wage growth and lower investment starting to come through as well.

“Households stand to be hit directly by sharp rises in council tax and threshold freezes, which will erode disposable incomes.

“Meanwhile, the overall rise in the tax burden transfers resources out of the productive private sector into the poorly performing public sector, undermining growth further.

“This combination unfortunately makes the Chancellor’s desire to improve the UK’s growth prospects that much harder.”

The effect of the raid is such that tax revenues could ultimately fall short.

Although the headline expectation is that the NICs raid will bring in almost £24bn, Stuart Adam, at the Institute for Fiscal Studies, notes that the Office for Budget Responsibility anticipates an overall haul of less than £15bn due to “knock-on effects”.

“If employers have to pay extra NICs, that money has got to come from somewhere,” he said.

“So it either comes out of taxable profits or they pass it on to workers through lower wages and it comes out of taxable earnings. Whatever it comes out of, you are going to be getting less tax from those.”

A Treasury spokesman said: “Capping the rate of corporation tax, establishing a National Wealth Fund and creating pension megafunds is just the start of our Plan for Change which will get Britain building, unlock investment and support business so we can raise living standards and make all parts of the country better off.”