Submitted on Saturday 5th November 2016
Published on Tuesday 8th November 2016
Current status: Closed
Closed: Tuesday 2nd May 2017
Signatures: 32
Tagged with
Economy ~ Individuals ~ Tax ~ UK
Have a progressive capital gains tax in the U.K for high net worth individuals.
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.
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.
You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!
13.59.69.109 Sun, 22 Dec 2024 22:06:40 +0000
