Have a progressive capital gains tax in the U.K for high net worth individuals.

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Have a progressive capital gains tax in the U.K for high net worth individuals.

Petition Details

Only wealthy people make large gains on their assets; yet they pay the same as working people earning £11,000 to £43,000 per year; this is obviously unfair and perpetuates inequality. Let's create a fairer society where our taxes don't benefit the wealthy and everyone really pays their fair share.

Additional Information

The FTSE 100 average yearly gain is 5.4% (Motley Fool UK). Yet average yearly earning income increases between 2001 and 2016 is just 2.3% (ONS). Clearly a CGT rate of 20% benefits the wealthy.
CGT shouldn't change for companies, only for high net worth individuals. Capital investment is essential to our economy; and individuals won't be put off investing if they have to pay 40% on their profits like everyone else. Changing CGT would improve inequality and provide revenue for the government.

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