Polling released ahead of Chancellor John Healey’s first Budget found that 63% of voters want increased taxes on people with over £10million in assets – a move campaigners believe would pay for a National Care Service
Chancellor John Healey is under pressure to ramp up taxes on the mega-rich(Image: Betty Laura Zapata/PA Wire)
Over 60% of voters want the mega-rich slapped with more tax, as well as windfall taxes on banks and energy firms, John Healey has been told.
Polling carried out ahead of the Chancellor’s first budget on October 28 found 63% want increased taxes on people with over £10million to fund Andy Burnham’s priorities. The survey also found 61% back windfall taxes on bank profits, as well as 62% for energy companies.
Campaigners estimate the measures would raise a combined £36billion a year. A wealth tax alone would raise more than enough to pay for Mr Burnham’s proposed National Care Service to finally tackle the UK’s care crisis, they say.
It comes after the Prime Minister said he wants to expand social housebuilding, reform social care, increase devolution and deliver growth across the country. The polling, of over 2,000 adults by Survation for Tax Justice UK, shows 71% think the government prioritises the interests of corporations and big business.
Julia Davies of campaign group Patriotic Millionaires UK – whose supporters including Gary Lineker have demanded more taxes for the rich – said: ” I don’t know how much more evidence there needs to be for the government to accept that there’s no tax change the British public want more than taxing the super-rich.
“The engine room of this country is our people. For decades, not only have they been asked to do the work that keeps our country moving, but to pay higher prices for the pleasure of doing it.”
And Faiza Shaheen, executive director at Tax Justice UK said: “ Andy Burnham and John Healey cannot afford to miss the open goal in front of them to tax the super-rich and the profiteering banks and energy companies help to sort out the urgent affordability crisis gripping the country.
“It would help them introduce meaningful support for people to pay their bills, and in putting an end to rip-off housing and energy. If they do this, which would be hugely popular, they have a chance to shake off the sense that this government is for the richest and most powerful. It would show they’re a government on the side of people in every corner of the country.”
The groups say that equalising capital gains tax with income tax and closing loopholes would raise £12billion a year. This would help fund 90,000 social homes, they say.
And a 2% annual wealth on those with assets worth over £10million would raise around £24billion, the groups estimate. This is more than the roughly £18.5billion cost of the National Care Service Mr Burnham wants to create, they said.
It comes as Mr Healey prepares to travel to Bangkok for the International Monetary Fund (IMF) annual meetings. He will argue that the UK and its allies must work together to limit the damage caused by conflicts such as the war in Iran.
He said: “The consequences of conflict in the Middle East and Europe are hitting countries worldwide, leading to higher prices at the pumps and more expensive mortgages at home, but Britain and our allies can face up to these challenges together.
“I will work with our international partners to keep trade moving, support families and businesses, and make Britain’s economy stronger and more resilient to deliver good growth in every postcode.
“My Budget will build on this approach with fiscal discipline helping to deliver economic resilience. This means breathing space for today, and hope for the future.”
