MOST people would be more likely to support a political party that committed to taxing the rich, new research finds as the latest “rich list” exposes the obscene accumulation of wealth by a tiny minority.
The research, commissioned by Tax Justice UK, found that 64 per cent would be more inclined to vote for a party that pledged to increase taxes on the wealthiest to fund the NHS and other public services.
This year’s Sunday Times “rich list” was topped by Gopi Hinduja’s family, who have amassed a greedy fortune of £37.2 billion — the largest in the list’s history, through banking and finance, media and entertainment, and energy. There are 165 billionaires on the list.
Charles Windsor’s wealth has jumped by £10 million to £610m last year, dwarfing Elizabeth II’s wealth which was believed to be around £370m in 2022. The Times suggested the monarch benefited from a boost to the net worth of his properties.
The personal wealth of Prime Minister Rishi Sunak and his wife Akshata Murty soared by £120m to £651m in 2023.
Graham King, whose firm is paid £3.5m a day for transporting and accommodating asylum-seekers, has amassed £750m.
Rachael Henry from 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 to 2 per cent tax on assets over £10m would affect around 20,000 people and could raise up to £22 billion a year, 72 per cent indicated their support for such a tax.
TUC general secretary Paul Nowak said: “The Conservatives have turned Britain into a land of grotesque extremes and rampant wealth inequality.
“UK workers are in the worst cost-of-living crisis in generations with real wages still worth less than in 2008.
“Meanwhile those at the top continue to coin it in.
“This inequality is bad for living standards, bad for the economy and is holding the country back.”
