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UK Wealth Tax Gains 75% Support Amid Fiscal Pressure

11/12/2025

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Summary

Story summary

A 1% wealth tax on assets above £10 million enjoys 75% support in the UK.
Tax Justice UK estimates the tax could raise £24 billion annually for public investment.
Chancellor Rachel Reeves faces pressure to uphold fiscal rules without borrowing, risking tax increases or spending cuts.
Polls show 76% disapprove of the government's tax handling.
Critics warn income tax hikes could breach Labour's manifesto and affect higher earners and pensioners.

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Story summary

A 1% wealth tax on assets above £10 million enjoys 75% support in the UK.
Tax Justice UK estimates the tax could raise £24 billion annually for public investment.
Chancellor Rachel Reeves faces pressure to uphold fiscal rules without borrowing, risking tax increases or spending cuts.
Polls show 76% disapprove of the government's tax handling.
Critics warn income tax hikes could breach Labour's manifesto and affect higher earners and pensioners.