Key facts
- Over 120 wealthy Britons have asked Prime Minister Andy Burnham to increase taxes on the richest.
- The signatories proposed taxing wealth derived from assets, not income from employment.
- Patriotic Millionaires support a 2% tax on wealth exceeding £10 million.
- Researchers at Centax suggested reforms that could raise £26 billion.
- Signatories include Gary Lineker, Brian Eno, Richard Curtis, Ian Gregg, Val McDermid, and Gary Stevenson.
Prime Minister Andy Burnham has been urged by a group of wealthy Britons, including former footballer Gary Lineker and musician Brian Eno, to implement a significant tax increase on the richest individuals. The call, organized by the group Patriotic Millionaires, suggests taxing wealth derived from assets rather than income from employment, with a proposal for a 2% tax on wealth exceeding £10 million. Researchers at Centax have also suggested reforms that could raise approximately £26 billion to address imbalances in the tax system.
In an open letter, 120 signatories stated they "can afford it" and are not referring to higher taxes on those who earn income through daily work. They advocate for a "devolution of wealth and power from the very richest" to foster a more equal society. The letter argues that this untaxed capital represents a significant potential for investment in the country.
Conservative leader Kemi Badenoch commented that Gary Lineker is welcome to pay more tax and can "write a cheque to the Treasury, no one is stopping him." Chief Secretary to the Treasury Emma Reynolds also welcomed the sentiment from wealthy individuals wanting to pay more, noting that any major changes would typically be announced during a Budget and pointing to the Treasury's donation link. Brian Eno described the UK tax system as "very generous to rich people" and dismissed the idea that many millionaires would leave the UK if taxed more, comparing the situation to high-tax Scandinavian countries.