Voters think wealthy and big business should be taxed more to protect public services - TUC poll

Voters think the wealthiest should be taxed more to protect public services, according to new TUC polling published today.  

The poll reveals that by a margin of almost two to one (54% to 28%) the public support tax increases on the wealthy and big business to prevent cuts to public services.  

This number rises even higher for 2024 Conservative to Labour switchers (71% for and 23% against) and for 2024 Labour voters now strongly considering voting Reform (61% for and 32% against).  

The new polling comes ahead of the Spending Review, which the TUC says can be the “next key step” in the government's plan to rebuild Britain and deliver industrial renewal.   

The government must continue to “stay on track” and build on the positive start made at last year's budget, which saw significant investment in public services and infrastructure. 

Previous TUC polling has shown that rebuilding public services is vital to rebuilding public trust in politics. 

Not paying their fair share 

The poll of more than 2,000 adults, conducted by pollster Hold Sway, shows there is widespread frustration at the current amount of tax paid by the wealthiest in Britain:  

• Nearly 6 in 10 (59%) think the wealthiest do not pay their fair share – including 74% of Conservative to Labour switchers and 72% of those strongly considering switching from Labour to Reform.   

• A clear majority (56% for and 31% against) think big businesses do not pay their fair share of tax – including 58% of Conservative to Labour switchers and 64% of those strongly considering switching from Labour to Reform. 

• Over two-thirds (67%) believe there are too many loopholes that can be exploited by wealthy people in the tax system – including 81% of Conservative to Labour switchers and 72% of those strongly considering switching from Labour to Reform. 

Voters across the political spectrum, including Reform-leaning voters, back several different options for raising taxes on the wealthiest:  

• Two in three (67%) support an annual wealth tax for estates above £10 million including 88% of Tory to Labour switchers; and 81% of Labour voters now strongly considering Reform.  

• More than six in ten (63%) back a windfall tax on banks – including 85% of Tory to Labour switchers, and 78% of those Labour voters now strongly considering Reform.  

• One in two (50% for and 26% against) support raising capital gains tax – including 75% of Tory to Labour switchers, and 67% of those Labour voters now strongly considering Reform. 

Case for investment  

The TUC says the findings highlight the public's appetite for rebuilding public services – and suggest that a fairer tax system should be part of plan. 

The union body says the government must continue to build on the vital investment in public services and infrastructure announced in last November's Budget. 

Despite a difficult international economic environment, the TUC says strong public services are essential rebuilding Britain and to securing strong future growth.  

The country is “crying out for sustained investment” after years of Tory neglect – and faces real risks with growing global uncertainty, decimated public services and living standards hammered. 

Fairer tax system 

The union body is calling for a “a fairer and more common-sense" approach on taxing wealth. 

The union body is also calling for an independent review of the OBR and its assumptions behind the fiscal rules, to give the UK greater flexibility to spend on vital services and infrastructure. 

The TUC priorities for the Spending Review include: 

• Fully funding Make Work Pay commitments including funding for regulators and Fair Pay Agreements in social care 

• Delivering sustainable public services workforce investment including funding fair pay rises and re-establishing engagement mechanisms 

• Delivering a proper industrial strategy with good jobs at its heart – backed up by investment in infrastructure and support on industrial electricity prices. 

TUC General Secretary Paul Nowak said:   

“The Spending Review can be the next key step in the government's plan to rebuild Britain and deliver industrial renewal. 

“Communities are still crying out for meaningful change after more than a decade of Tory austerity and neglect. 

“That's why the government must stay on track – building on the positive start it made at last year's Budget by providing sustained funding for our public services and infrastructure.   

“The global outlook is challenging, but leaving our decimated public services without sufficient investment would risk both future growth and public trust.  

“The message from voters is clear. They want the government to protect and rebuild our public services.  

“If that means asking the wealthiest to pay more, the public are behind it. People are fed up with a system where those with the broadest shoulders don't pull their weight.” 

On the role of the OBR, Paul added: 

“It's time to review the role of the OBR and its fiscal assumptions to give the UK greater flexibility to invest in our future.” 

ENDS 

Notes to editors: 

-Polling: Hold Sway surveyed 2000 adults in Great Britain online between 30 May and 2 June. Quotas and weights were used to ensure the sample is nationally representative of the adult population by age, gender, region, ethnicity, education level and past voting behaviour.