Public Support for Taxing Wealth

Commenting on polling carried out by YouGov for Tax Justice UK and Oxfam GB, showing widespread public support from across the political spectrum for increasing taxes on wealth, Dr Wanda Wyporska, Executive Director, The Equality Trust said:

“It’s clear that the public are in favour of taxing wealth, as they see the reality of inequality day in, day out. As Equality Trust analysis in our Wealth Tracker found, the top 1,000 on the Sunday Times Rich List have increased their income by £253 billion over the past five years. 

This is the true story of the UK’s appalling wealth inequality, which sees a nation of Ferraris and foodbanks. As the rich get richer, year-on-year, more and more people are working for their poverty, in a country where the richest 1000 have more wealth than the bottom 40% of households. In our grossly unequal UK, we are seeing the fabric of society ripped to shreds as the gap between us grows ever wider. It seems that while Britain’s richest are determined to cling onto their wealth, power and privilege, despite inequality being at a dangerously high level, the public supports greater taxation of wealth.