Voters back tax on £10,000 bonuses

12 April 2012

Nearly three quarters of voters believe the Government should impose a new tax on all bonuses over £10,000 a year, a poll has suggested.

And an overwhelming 83% of respondents agreed that excessive bonuses and executive pay fuelled risk-taking, which played a major part in the economic crash.

The YouGov poll, commissioned by centre-left pressure group Compass, found that 73% of voters agreed with a tax on £10,000-plus bonuses.

Some 68% would also support the Government in imposing a new tax on major transactions by financial institutions, in a bid to curb the "risk culture". And 78% agreed that the growing gap between rich and poor was bad for society.

Nearly two-thirds of people (63%) supported the establishment of a High Pay Commission, which would review executive pay.

Labour backbencher Jon Cruddas, who warned this week that Labour was "paralysed by defeatism", said it was now clear that voters were "not intensely relaxed about people getting filthy rich".

He said: "(The poll) also shows that tackling excessive pay is electorally popular and the growing gap between rich and poor is a real public concern.

"Public anger over high pay and the City bonus culture demand the government take bold action.

"Establishing a High Pay Commission would enable the Government to take action and instigate an evidence and fact based investigation into the effects of excessive pay on our economy and wider society."

Gavin Hayes, general secretary of Compass, said: "This poll demonstrates a seismic shift across the political spectrum in attitudes to high pay and shows very clearly that on this crucial issue, the British people don't just want rhetoric from politicians - they demand concrete action."

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