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Reduce all income tax rates

Submitted by Benjamin John Welch on Monday 25th March 2024

Published on Monday 29th April 2024

Current status: Closed

Closed: Wednesday 29th May 2024

Signatures: 47

Relevant Departments

Petition Action

Reduce all income tax rates

Petition Details

We want the Government to change income tax rates to the following:

Personal Allowance - Up to £14,570, 0%
Basic rate - £12,571 to £50,270, 12%
Higher rate - £50,271 to £125,140 20%
Additional rate over - £125,140, 25%

Additional Information

We believe reducing income tax rates will help spur economic growth. By doing so, this will give people more after-tax income that could be used to buy more goods and services, which increases the gross domestic product (GDP).

Further, reduced tax rates may boost savings and investment, which could lead to further production and reduced unemployment.


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