Majority of people more likely to vote for party committed to higher taxes on the wealthiest to pay for NHS and public services
17 May, London – A majority (64%) of people in the UK would be more likely to vote for a political party at an election if it was committed to higher taxes on the wealthiest to invest in the NHS and public services. This is one of the findings of new public opinion research released today that also shows the public support major changes to the tax system.
New public attitudes research, commissioned by Tax Justice UK, and undertaken by FocalData, shows the overwhelming popularity of taxing the wealth of the richest. It comes at the same time as the launch of the Sunday Times Rich List. This year’s ‘Rich List’ demonstrates the massive accumulation of wealth by a tiny minority of people and families in the UK.
Rachael Henry, Head of Advocacy and Policy at Tax Justice UK said: “Taxing the wealth of the very richest is an extremely popular policy – a vote winner – and an incredibly sensible way to help fix the country. People in Britain are really struggling and so are public services. The NHS is wounded, getting an NHS dentist is akin to a lottery win, and GP surgeries are creaking under pressure. Politicians need to see the wood for the trees and use the tools available to them to inject life back into the country.”
When told that a 1-2% tax on assets over £10 million would affect around 20,000 people and could raise up to £22 billion a year, 72% of respondents indicated their support for such a tax. 73% would also support such a tax to invest in the NHS. Additionally, 57% would support charging the same tax rate on income that comes from wealth as income that comes from employment.
A 1-2% tax on assets over £10 million, alongside equalising income tax rates are just two of a suite of 6 wealth proposals put forward by Tax Justice UK that could raise up to £50 billion a year.
Participant interviews, using FocalData’s novel artificial intelligence interviewer – FD_Chat – also demonstrated the strength of feeling about inequality in the UK. 52 people, spanning different ages, incomes, regions, ethnicities and 2019 vote were interviewed to understand their opinions. They were asked 5 broad questions covering inequality and wealth, increasing taxes on the wealthiest, and what they think is holding politicians back from doing so.
Interviewees expressed a concern around increasing wealth inequality and the negative implications it has on society and politics. There was also a sense of urgency expressed for better tax policies and regulations to address these challenges and redistribute wealth more fairly. The interview data shows a strong sentiment for systemic change, both economically and politically, to mitigate wealth inequality and its consequences. This research builds on a previous Tax Justice UK report ‘Talking Tax’ which delves into public attitudes toward public services, wealth and tax.
When FD_Chat interviewees were asked about their thoughts on taxing the wealthiest in society, respondents regularly spoke of increasing taxes. A participant that didn’t vote in the previous election said ‘I believe [taxing wealth] is the only thing that can reduce the inequality that exists’.
However, some narratives centring on those with wealth working hard and being deserving of their wealth did come through. Though when asked about a specific 1-2% tax on wealth, interviewees regularly stated it was a fair, or reasonable proposition.
A 2019 DUP voter put forward the view that they ‘don’t agree that people should be paying higher taxes on money they have worked hard to earn even if they are wealthy’. However, when asked about a 1-2% tax on assets over £10 million, they said they ‘believe the interest people would be making on those investments alone would cover the 1-2% tax and therefore they may not feel much of an impact of this’.
Interviewees were also asked what they thought was holding politicians back from implementing higher taxes on the wealthiest. Themes emerged around conflicts of interest, fear of losing donors, and that politicians themselves stood to lose out which may be holding them back.
When asked their perspective on reasons holding politicians back from increasing taxes on the wealthiest, a 2019 Conservative voter simply stated ‘lobbying, influence’. When prompted further, they expanded to say ‘when you have a lot [of] money you have a lot of power and influence. The mega rich can easily pay to get their interests heard above anything else, and in certain circumstances have their people in Government. Cronyism I suppose’.
One participant, 57, who previously voted Labour at the 2019 election said that ‘any one looking at the papers or the news or listening to the discussions at parliament would understand that political ideologies are integral to how policies are put together re[garding] taxation.
Notes to editors:
- For further information and to arrange interviews or comment, please contact Jake Woodier, Deputy Director: Comms at Tax Justice UK on 07503789994 / jake@taxjustice.uk
- FocalData – on behalf of Tax Justice UK – carried out an online survey of 1,011 UK adults aged 18+ from 30th April to 1st May 2024. Results have been weighted to be UK representative. Data tables are available here.
- Interviews were undertaken with participants using FocalData’s qualitative AI interview tool – FD_Chat – to ‘dig deep into the real motivations, attitudes and behaviour of consumers, citizens and voters’. For further information and methodology used by FD_Chat, please see this document.
- Tax Justice UK is a campaigning and advocacy organisation. Our mission is to ensure that everyone in the UK benefits from a fair and effective tax system. We are not-for-profit and politically non-aligned. Tax Justice UK is a partner of – but independent from – the Tax Justice Network.
- Participant quotes sourced from Tax Justice UK’s FD_Chat research can be found here.