With Budget just less than a week away, a recent poll shows most Britons are worried about potential tax rises, but the survey highlights a difference in tax approach.

According to an AJ Bell survey conducted on 2-4 October, representing 2,054 UK adults, two-thirds of respondents expressed concern about their personal finances in relation to increased tax rates.

Since this survey was conducted earlier this month, this concern may have intensified, with many reports naming names tax increases as an inevitability.

However, the public was divided on tax strategy. 30 percent were in favor of a reduction in the overall tax, while 28 percent said they would accept an increase.

However, there is a more uniform stance when respondents were asked about specific tax categories.

A large number of people targeted significant increases such as dividend tax (38 percent), inheritance tax (30 percent), and capital gains tax (44 percent).

The results also revealed that over half (54 per cent) of them supported an increase in the higher rate of income tax, with 65 per cent believing that those in the additional tax bracket should receive even higher income tax.

The introduction of a wealth tax on personal assets was backed by 53 per cent of those polled, reflecting a measure gaining traction as Britain grapples with how to fund key public services without tarnishing its manifesto promises.

Although there is support for targeted increases, the results show the government should be cautious about any changes to employers’ national insurance, as only 31 per cent back an increase in their contributions.

However, the public shows a strong preference for pension stability, with only 22 percent supporting limiting pension tax incentives.

AJ Bell’s Tom Selby advocates a “pension tax lock” to protect such incentives: “Labour should harness public sentiment to commit to a pension tax lock”.

Rachel Reeves is navigating a narrow fiscal path, but Labor has vowed not to raise “workers’ triple lock” of income tax, VAT or national insurance.

But as Selby said this triple lock “is the clearest indication yet of the extent to which the party has boxed itself into one of the most powerful tax levers it could pull”.

Britons have said they have not yet taken steps to prepare for these increases, and among the third (32 per cent) who have, many have turned to ISAs.

– Where (the British) actually stand in taxes paints a somewhat divided picture, says Selby.

Reeves will have to navigate putting in place policies that deliver on her promises and meet revenue needs while maintaining public support at next week’s budget.