24 Feb More people support the rate of corporation tax rising from 19% to 25% than oppose the policy
More people support the rate of corporation tax rising from 19% to 25% than oppose the policy, a new poll indicates.
A People Polling for GB News poll* found 38% say they support the rate rise while 20% were against the idea. Forty one percent said they didn’t know or preferred not to say.
Among Conservative voters, 36% support the increase in the corporation tax – 29% are against it. Whereas 54% of Labour voters support the increase and 13% are against.
Politics expert Professor Matthew Goodwin said: “While Conservative MPs might be clamouring to see an immediate cut in tax, we’ve actually found little support for this among voters, with only one in five opposing the proposed increase. On balance, it appears that many voters are either undecided about the policy or support it, with only minorities against.”
The story comes amid reports Rishi Sunak could be facing a rebellion from a coalition of Conservative MPs over April’s planned rise in corporation tax.
The leaders of several backbench Tory factions have written to the prime minister to urge him to “abandon” his plan to hike the tax from 19 to 25 per cent ahead of the March Budget.
Liz Truss backer Simon Clarke, who is chair of the new tax-cut-supporting Conservative Growth Group (CGG), Sir Jake Berry, founder of the Northern Research Group, and Mark Francois, the European Research Group chair, have all demanded a rethink.
Greg Smith and John Redwood, leaders of the Thatcherite groups Conservative Way Forward and No Turning Back, also signed the letter, warning that a tax rise could hit investment and jobs.
The letter stated: “We are writing to urge you to reconsider the government’s plans to increase corporation tax from 19 per cent to 25 per cent in April this year.”
It added: “If the increase proceeds, potential new jobs and higher national output will be lost and your commendable ambition of transforming Britain into a ‘science superpower’ will be undermined. Levelling-up hopes will be hit hard.”
