The new Chancellor should cut pension tax relief for higher earners, the poll found. Some 62 percent of respondents backed the move compared to 36 percent who did not, while two percent were undecided.

It follows reports that Boris Johnson, who has pledged to “level up” the economy, and Mr Sunak were drawing up plans to reduce the rate of tax relief on pension contributions for higher earners from 40 percent to 20 percent, the same as lower earners.

The raid would bring in £10 billion a year for the Treasury, The Times reported.

But it could be unpopular with Conservative voters.

It comes after plans for a “mansion tax” were abandoned following a Tory backlash.

Commenting on the Express.co.uk poll, one reader said: “Why should the high earners get more tax relief than low earners?”

Another wrote: “As in most cases, money goes to money, but obviously if these higher rate taxpayers have it they will hang onto it as most would, a lot of these want to get out into the real world to see how the majority of really trying to live.”

A third suggested: “Have a maximum say £10000 after which it falls to 20 percent allowance.

“That way those just above threshold can benefit. OR, give everybody 25 percenet.”

Another said: “I support it as long as it pays for the needy and the HS2.”

However, one disagreed: “No. It smacks of hitting the wealthy because they are wealthy, in much the same way Labour wanted to behave.”

DON’T MISS
Brexiteer Cabinet will send chills through EU, says PATRICK O’FLYNN [COMMENT]
Boris Johnson holds call-and-response exercise with new-look Cabinet [INSIGHT]|
Jeremy Vine caller lashes out at Johnson’s ‘plot’ to become ‘king’ [VIDEO]

It comes as Mr Sunak confirmed earlier today that the Budget will take place as planned next month following speculation it could be pushed back after his predecessor Sajid Javid’s dramatic departure.

The newly-appointed Cabinet minister said he was “cracking on with preparations” for his first Budget on March 11.

Mr Sunak tweeted: “Cracking on with preparations for my first Budget on March 11. It will deliver on the promises we made to the British people – levelling up and unleashing the country’s potential.”

Downing Street was unable to confirm last week that the Budget would go ahead as scheduled after Mr Javid resigned in Thursday’s reshuffle.

The ex-Chancellor was ordered to fire his closest aides and replace them with advisers chosen by Number 10.

But he opted to quit instead and was replaced by Mr Sunak.

The bombshell move followed mounting tensions between Mr Javid and the Prime Minister’s chief adviser Dominic Cummings.

Mr Sunak was an analyst for investment bank Goldman Sachs before going on to work in hedge and investment fund management. He became an MP in 2015.

Over the weekend, Transport Secretary Grant Shapps said the Budget could be delayed to allow more time to prepare.

He told Sky News’s Sophy Ridge On Sunday programme: “I know that the Budget plans are well advanced but I also know that Rishi Sunak, the new Chancellor, may want time.

“I haven’t heard whether the date of March is confirmed as yet. He is probably looking at it, I should think this week.”

Express.co.uk polled 1,536 people on February 18.

Source: Read Full Article