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Scrap 50p tax bracket and replace with property tax for homes valued over £2 million

Submitted on Saturday 20th August 2011

Published on Thursday 1st September 2011

Current status: Closed

Closed: Saturday 1st September 2012

Signatures: 6

Tagged with

income tax ~ Tax

Petition Action

Scrap 50p tax bracket and replace with property tax for homes valued over £2 million

Additional Information

Scrap the 50p tax bracket altogether and replace with tax on properties worth approximately £2,000,000 or more (figure to be assessed to de-scope modest properties in expensive parts of London).

Aim - to reduce overall tax for high earners who DO pay income tax at 50% with any spare revenue used to reduce the 40% income tax bracket and unlock much need property/land that is currently being used inefficiently.


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