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Majority Of Tory Voters Back Rishi Sunak Plan To Increase Corporation Tax On Business Profits

Rishi Sunak has supported the corporation tax increase

2 min read

Exclusive: A majority of Conservative voters surveyed for a new poll have indicated they are in favour of a proposed hike in the rate of corporation tax.

As chancellor, Rishi Sunak announced a rise from next year in corporation tax to 25%, up from the current rate of 19%, and had committed to keeping the rise if he wins the Conservative leadership competition and becomes prime minister in September. 

Rival candidate Foreign Secretary Liz Truss, has vowed to scrap the planned increase.

The new polling conducted for the Onward think tank has shown a majority of Conservative voters would like the next Prime Minister to push ahead with plans to increase taxes on business.

The figures, seen by PoliticsHome, show that nearly 56% of Conservative voters back the plans, with just 28% saying they want the next leader to ditch the promise.

That compares to 63% of the wider public who support the tax rise, while 54% of former Conservative voters, who may vote for another party at a future election, also back the increase.

The polling also shows narrow support among Conservative voters for the rise in National Insurance to help fund the NHS and social care services, with 45% backing the move compared to 42% who want the next PM to scrap the increase.

That compares to just 34% of all voters who wish to see the NI hike kept, with almost 47% hoping it will be ditched by the next prime minister.

Leadership hopefuls have repeatedly clashed over their approach to the economy in recent debates, with Truss describing the plans to raise National Insurance during the cost-of-living crisis as "morally wrong" and accused Sunak of "scaremongering" over his dire economic predictions.

Responding to the polling, a spokesperson for Rishi Sunak's campaign told PoliticsHome: "This latest polling confirms what we've been saying from the start. Rishi Sunak is the Conservative Party's best chance to win the next election."

Plans to introduce new laws offering greater protections for renters were also backed by a significant majority of voters (72%), with 69% of Conservative voters also significantly in support of the moves.

Polling of 6,549 UK adults was conducted online by Public First between 13th-17th July 2022

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