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Windfall Tax to recover the £65bn of lost public money

Submitted on Monday 3rd October 2022

Rejected on Friday 7th October 2022

Current status: Rejected

Rejection code: no-action (see below for details)

Petition Action

Windfall Tax to recover the £65bn of lost public money

Petition Details

Announce a windfall tax to recover £65bn of public money that was lost due to the chancellor’s “mini budget” on Friday 23rd September 2022.

Additional Information

After the chancellor promised to cut the 45p top rate of tax, markets were spooked, and the Bank of England had to spend £65bn of public money to protect UK citizens from financial disaster.

The chancellor has now changed his mind, and cutting the 45p rate has been abandoned, but the £65bn has been lost from the public purse.

This must be recovered via a windfall tax on the country’s wealthiest people and companies.


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This petition was rejected

The Government e-Petitions Team gave the following reason:

Petitions need to call on the Government or Parliament to take a specific action.

We understand that you want to see a windfall tax introduced, but it's not clear who you want this tax to apply to, or you want it to work.

Additionally, your petition states that the Bank of England has spent £65 billion following the 'mini budget'. This is not correct. You can read a Full Fact article looking at this claim here: fullfact.org/economy/bank-of-england-65-billion-gilts-mini-budget/

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