A country cannot go bankrupt. After the war the debt to gdp ratio was 250%, and from that position the government nationalised 20% of industry, built houses, create the NHS and welfare state and developed a nuclear programme.
> corporate tax rate of 25%
on profit yes, but if you are big enough you declare as little profit as possible.
> personal income tax of 45%
that's the highest band there is, payable only on income over £125,140
> sales tax of 20% Yikes.
well it's a tax on added value on every step thorough the retail chain, collectable by the end retailer. It's zero rate on food and child clothes and some other things.
Taxes are indeed on the wrong places in many cases: e.g. dividend tax on unearned income should be equalised with income tax, income tax thresholds should be increased in line with inflation / wages and not frozen as they currently are. but I don't think overall tax burden is the issue here.