Three-quarters of the public support introducing a 2% tax on wealth above £10 million
The public overwhelmingly supports a wealth tax on the super-rich, including a majority of Tory and Reform voters, a new YouGov poll has revealed.
According to the survey of over 4,000 adults, 75% of Brits want to see a wealth tax introduced.
Tax Justice UK estimates that a 2% tax on individuals with wealth above £10 million – around 20,000 people – could raise £24 billion a year.
Speaking on Sky News on Sunday, former Labour leader Neil Kinnock backed growing calls for the government to introduce the policy, and suggested that some cabinet ministers may be sympathetic to one.
The YouGov poll found that 49% of voters strongly support a wealth tax, while 26% somewhat support introducing one. Just 13% of those surveyed expressed opposition to the policy.
Support for the policy cuts across party lines: 88% of Labour voters back the tax, along with 83% of Lib Dems, 61% of Conservative voters and 55% of Reform UK supporters.
When asked if the prime minister Keir Starmer backs a wealth tax, his spokesperson said: “Those with the broadest shoulders carry the greatest burden and the choices we’ve made reflect that.
“Our progressive tax system means the top 1% of taxpayers contribute nearly a third of income tax with revenue from wealth and asset taxes […] going towards funding tens of billions of pounds for public services.”
Yet, his spokesperson also said: “The chancellor has said that we are not going to be bringing in a wealth tax.”
Olivia Barber is a reporter at Left Foot Forward
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