Nearly two-thirds of British voters want the government to raise taxes on the very wealthiest, according to polling published ahead of Chancellor John Healey's first Budget. The survey found that 63% of voters back increased taxation on individuals holding more than £10million in assets, a proposal campaigners argue could pay for a National Care Service.
The findings place the question of wealth taxation firmly on the political agenda as the Chancellor prepares to set out his fiscal plans. The poll suggests broad public appetite for targeting the mega-rich rather than relying solely on cuts or broader tax rises, and it gives campaigners a fresh mandate to press their case in the run-up to the Budget statement.
Campaigners behind the proposal say a levy on the largest fortunes would generate substantial revenue that could be ring-fenced for social care, an area they describe as chronically underfunded. They argue that a National Care Service would bring England's fragmented care system closer to the model of the NHS, offering universal support and relieving pressure on families and local authorities.
The timing of the polling is significant. It lands just before Healey delivers his first Budget, a moment when the government must balance competing demands for public investment against fiscal constraints. With voters signalling support for wealth taxes, the Chancellor faces pressure from his own backbenches and from advocacy groups to include such measures rather than opt for spending reductions or increases to more broadly based taxes.
Opponents of wealth taxation typically warn that higher levies on assets can drive capital and high-net-worth individuals abroad, reduce investment, and fail to raise the sums predicted. Supporters counter that the UK's wealth inequality is among the highest in the developed world and that the richest have benefited disproportionately from recent economic shifts, making a targeted contribution both fair and necessary.
The poll does not specify how a wealth tax would be structured, nor does it set out the rate at which assets above the £10million threshold would be taxed. Those design questions would fall to the Treasury, which has not commented on the findings. The absence of detail leaves room for debate over whether the revenue raised would genuinely cover the cost of a National Care Service or merely contribute to it.
For the government, the political calculation is delicate. A Budget that includes a wealth tax would please a large section of the electorate and fulfil a long-standing demand from the left, but it would also provoke fierce opposition from business groups and wealthy donors. A Budget that omits such a measure risks disappointing voters who told pollsters they want the richest to pay more.
The National Care Service concept has been discussed for years without a firm funding settlement. Campaigners see the polling as evidence that the public is ready to accept a specific, earmarked tax to turn the idea into reality. Whether the Chancellor shares that reading will become clear when he presents his first Budget, a statement that will define his tenure and test the government's willingness to confront the country's wealthiest residents.