Petition Do not scrap the additional rate of income tax (45% for income above £150,000)

The policy of abolishing the additional rate of income tax may cause immense damage to the UK economy, giving money to those who don’t need it and increasing inequality: we want the government to retain it now. I believe “Trickle-down economics” has never worked in the past, and will not work here.

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The chancellor’s “fiscal event” on 23 September caused the pound to plummet against USD from $1.125 at midnight that day to just $1.09 less than 24 hours later: the worst exchange rate since 1985 (source: https://www.independent.co.uk/business/markets-plunge-in-worst-day-ever-after-minibudget-b2174088.html). I believe this is just a forecast of how the chancellor’s policies will not encourage growth, but will accelerate our economy’s slip into recession.

This petition is closed This petition ran for 6 months

31 signatures

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10,000

Date closed 30 March 2023
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