Most millionaires would pay higher taxes to support young people – research

79% willing to pay higher taxes

Sophia Panayi
clock • 3 min read

The majority of millionaires (79%) would be willing to pay higher taxes to create opportunities for young people, according to research.

Surveying 501 millionaires with assets over £1m in the UK, millionaires' network Patriotic Millionaires UK also found 64% of UK millionaires believe that the government should increase taxes on the wealthiest in order to cut taxes - such as income, VAT, and National Insurance for small businesses and individuals - for everyone else. The economic fall-out of the war between the United States and Iran was also something that 61% of millionaires felt the very richest should be paying for.  Three-quarters of UK millionaires claimed they would be willing to pay more tax to help "protect an...

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Sophia Panayi
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Sophia Panayi

Senior reporter at Professional Adviser

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