Britain has the highest property tax burden of any major economy, analysis by Ryan reveals, and there are fears of further rises under a new Labour leadership.

The data from the property tax specialist shows that taxes on property are equivalent to 3.7% of UK GDP, putting Britain ahead of France and Canada, which are on 3.4%, and Belgium on 3.2% respectively.

Britain collected just over £100billion last year through council tax, business rates, Stamp Duty and land taxes.

It reflects a system where property is taxed more heavily than in any other comparable economy.”

Alex Probyn (pictured), Property Tax Principal at Ryan, told the Telegraph: “The UK sits at the very top of global rankings for property tax. That is not a marginal difference, but it reflects a system where property is taxed more heavily than in any other comparable economy.”

He warned the growing tax burden was “beginning to weigh heavily on investment” and highlighted “a clear tension between the need to raise revenue and the need to support investment”.

The news comes as speculation about Labour’s future direction grows, with Manchester Mayor Andy Burnham – who is widely viewed as a potential future leadership contender – recently claiming that wealth and assets are “undertaxed”.

The harsh reality of Labour’s high-tax economy.”

Burnham has also backed council tax reform and has called for a revaluation of council tax bands, which could push more homes into higher tax brackets.

Shadow Chancellor Sir Mel Stride claimed the figures exposed “the harsh reality of Labour’s high-tax economy”, which was “crushing investment” and “holding back growth”.