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50% Tax rates: what the public think

Last weekend’s YouGov poll for the Sunday Times reveals what the public think of the 50 tax rate. And readers will be encouraged that roughly half the population — across the voters of all three main parties — think the top rate is about right (although younger people and Londoners are less likely to think so – with more favouring a lower top rate) . In answer to the question “do you think the current 50% rate of income tax for people earning over £150,000 is too high, too low, or is it about right,” 48% said “about right” with the rest of those who expressed an opinion split almost evenly between those who thought “too low” and “too low”.

Better still, when asked more generally about taxes on the wealthiest people in the UK, 45% thought they should be increased, 35% kept at their present level and only 11% decreased. Age and geography are less of a factor in this but Tory voters are, unsurprisingly, more likely to oppose tax increases.

And as to how the bankers have fared since the credit crunch, a whopping 77% of people think the government has been too soft on them with only 2% thinking they have been too harsh. Not surprising since 81% think they have failed to reform the bonus culture, and 63% think they’ve failed to reform their practices or reduce risk.

The detailed results on tax are:

[table id=20 /]

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