In the new Budget Chancellor Amadeus Pond is to introduce graduated income tax, increasing the income tax rate for earning over $400,000 from 20% to 40%, for people earning over $200,000 the rate will be increased to 35%, over $100,000 the rate is increased to 30% and over $65,000 the rate is increased to 25%, earnings under $20,000 remain untaxed. Other measures include an increase VAT from 5% to 20%, an increase corporation tax from 10 to 20% on profits and an increase in capital gains tax from 2% to 20% on earnings over $500,000 per annum. 

The most drastic tax increases in Izaakian history have taken many by surprise, with the radically reforming Amadeus Pond defending this as the only opportunity to overhaul the Izaakian economy, and remove structural weaknesses in government institutions, these moves are expected to increase the chancellors budget by 75%. Amadeus pond went further to promise no further tax rises in this parliament, and called for patience in seeing the positive impact this government spending will have, saying that Izaakia will still have one of the lowest rates of tax burden in the world.