Public support for ‘fat-cat’ social care tax

A wealth-related social care tax has more support from the British public, than a general increase in income tax or changes to the NI system, according to a survey from pensions and investment company Aegon.

In a poll of just over 1000 adults, the company found two-thirds of respondents supported a ‘fat-cat’ tax, compared to just 39 per cent support for a general rise in income tax. 

Support for other options includes: 

  • Remove NI exemption for those working beyond state pension age: 54 per cent
  • Employer contribution: 49 per cent
  • Social care levy: 49 per cent
  • More income tax or NI, working population only: 48 per cent.

Steven Cameron, pensions director at Aegon said: “Our findings show people have woken up to the fact that the Government will need to raise taxes to pay its share of costs.  It’s likely that the Government will need to design a package of different measures to fill the social care funding gap. The really tricky bit is how to shape and ‘sell’ a package of tax increases which will be seen as fair across generations of voters and across those with different income and wealth levels.”

In a survey conducted last month, Aegon reported that 68 per cent of adults now support a shared payment deal.

 

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