Raise the net wealth tax for the rich

Rejected 15 signatures

What the petition asks

For household wealth between £3.4m and £5.7m to be taxed at 1%; between £5.7m and £18.2m at 5%; and above £18.2m at 10%. This could raise £70bn to £130bn of revenue a year and decrease the income gap in the UK.

Income inequality is further established by taxing low-income earners harder than the wealthier. For example, by raising the National Insurance tax as a way of recovering from the Covid-19 led financial crisis. The majority of the population spends half their income on living arrangements and taxes, making it a challenge to save and own property. By raising the net wealth tax for the top 1% of the wealthiest households in the UK, the government will raise revenue and decrease the income gap.

Why it was rejected

It was not clear what the petition asked the UK Government or Parliament to do.

Petitions need to call on the Government or Parliament to take a specific action.

We're not sure exactly what you'd like the Government or Parliament to do. We're not sure whether you want to create a new tax or to raise an existing tax.

You could start a new petition explaining clearly what you would like the Government or Parliament to do.

Timeline

15 Feb 2022	Petition opened for signatures
18 Feb 2022	Rejected by the Petitions Committee

Key facts

Signatures 15

Status Rejected

Rejected 18 Feb 2022

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