Cross-party support for curbs on City excess

Social Justice

A YouGov poll commissioned by Compass, "shows huge majorities want action on high pay." Although attitudes are broadly similar across social class and party allegiance, "Thatcher's children" - those born since 1975 - are less likely to support new taxes on the bonuses.

A YouGov poll commissioned by Compass, “shows huge majorities want action on high pay.” The democratic left pressure group highlight that:

  • 78 per cent agree that the growing gap between rich and poor is bad for our society
  • 73 per cent would support the government in imposing a new tax on all bonuses above £10,000 a year
  • 68 per cent support the government in imposing a new tax on major transactions by banks and other financial companies
  • 52 per cent would be more likely to vote for a political party that promised to introduce these measures and set up a High Pay Commission

Social grouping appears to have little impact on opinion with richer ABC1 and poorer C2DE voters holding similar views across all questions. Voting intention is a better predictor of attitudes but clear majorities still exist among Conservative voters for curbs on City excess. 70 per cent of Tories support a new tax on bonuses above £10,000 and 51 per cent suggest they would be more likely to vote for a party that promised to bring in these policies.

The data did, however, reveal a startling difference in attitudes between “Thatcher’s children” and those over 55. Only 54 per cent of those aged 18 to 34 support a new tax on major transactions by banks and financial companies compared to 77 per cent of those aged 55 and over. The gap is even greater (58 per cent to 83 per cent) on the question of imposing a new tax on all bonuses above £10,000.

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5 Responses to “Cross-party support for curbs on City excess”

  1. Will Straw

    Thatcher’s revenge: Under 35s out of step with rest of country in revulsion to City excess http://bit.ly/2ZQzez

  2. Shamik Das

    RT @leftfootfwd: RT @wdjstraw: Thatcher’s revenge: U-35s out of step with rest of country in revulsion to City excess:- http://bit.ly/2ZQzez

  3. Sarah Butcher

    RT @edmundo: Young people far less keen on bonus clampdown RT: @wdjstraw: http://bit.ly/2ZQzez

  4. Peter Orlov

    But this isn’t unexpected though, is it? “Majority of people like populist measures” would be a better opener, though admittedly a less interesting one. “Majority of people see link between failure of Basel II and current financial crisis” would be more encouraging, but less likely….

  5. Chris

    Surely people over 55 support punitive tax measures because by the time they are introduced they will not have to pay them!

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