0% Read

How to pay for Covid-19

Chris Holbrook Find Out Now Market Research

Chris Holbrook

2nd Sep, 2020 | 3 mins read

Slash aid spending, and tax big companies, say public

Foreign aid and defence spending should be slashed, while corporation tax and capital gains tax should be increased, according to our recent poll of over 6,000 UK adults.

Asked what government spending should be cut, 64% singled out foreign aid, while 21% said defence. More than 16% said “none”.

You can see the results here

Asked what taxes, if any, should be raised, nearly 51% said corporation tax, while 39% said capital gains tax. A large minority, 30%, said no taxes should go up.

You can see those results here

Last week it was reported that the government is considering sweeping tax increases as it tries to get the nation’s finances under control. UK government debt recently topped £2 trillion.

Business group have warned that tax increases would stifle economic recovery and that it is too soon to ask companies to pay more.

Some economists argue that government cuts would also be a mistake until the economy is properly out of recession.

About the survey

The survey of 6,261 members of Pick My Postcode was conducted on Tuesday 1st of September. Find Out Now selected a nationally representative sub-sample of 2,400 within +/-1% of ONS quotas for Age, Gender, Region, and Social-Economic Grade, using machine learning. No weighting was applied.