Petition · past parliament · HM Treasury
Scrap rise in National Insurance and use a Wealth Tax to save NHS & Social Care
Closed
196 signatures
What the petition asks
The increase to NIC cuts take-home pay for lower earners & younger workers. It also increases costs for small businesses.
A 1% tax on millionaire households in the UK could raise an astonishing £260 billion in 5 years (see Wealth Commission report). The NIC hike might only raise £36 billion/3 yrs.
Experts from LSE, the University of Warwick, and a barrister advising High Net Worth individuals state in the Wealth Commission report that a one-off wealth tax would work, raise significant revenue, and be fairer and more efficient than the alternatives. A wealth tax like this demonstrates that there are better ways to raise serious tax revenue to save the NHS and social care.
Source: https://www.lse.ac.uk/News/Latest-news-from-LSE/2020/L-December/Wealth-Commission-report
Experts from LSE, the University of Warwick, and a barrister advising High Net Worth individuals state in the Wealth Commission report that a one-off wealth tax would work, raise significant revenue, and be fairer and more efficient than the alternatives. A wealth tax like this demonstrates that there are better ways to raise serious tax revenue to save the NHS and social care.
Source: https://www.lse.ac.uk/News/Latest-news-from-LSE/2020/L-December/Wealth-Commission-report
Timeline
| 20 Sep 2021 | Petition opened for signatures |
| 20 Mar 2022 | Closed to new signatures |
Key facts
Signatures
196
Status
Closed
Department
HM Treasury
Opened
20 Sep 2021
Closed
20 Mar 2022
Follow this petition
Sign in to get an email when the government responds, a debate is scheduled or held, or the petition closes.
Source: the official petition page. Last checked 15 Jul 2026.