This petition was submitted during the 2019-2024 parliament
Rejected petition Raise the net wealth tax for the rich
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.
More details
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.
This petition was rejected
Why was this petition rejected?
It’s not clear what the petition is asking 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.
We only reject petitions that don’t meet the petition standards.