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6d ago

120 Millionaires Ask Burnham to Tax the Super‑Rich

Their campaign sets out a 2% annual levy on fortunes above £10m as a way to raise tens of billions for public services and the government has not committed to adopt it.

Millionaires including Brian Echo, Gary Lineker, and Simon Pegg have signed a letter to U.K.’s prime minister asking for higher taxes to tackle inequality.
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Overview

  • A group calling itself Patriotic Millionaires UK published an open letter in late July asking Prime Minister Andy Burnham to raise taxes on the very wealthiest and inviting the government to act.
  • The campaign proposes a 2% annual levy on fortunes over £10 million and a package of capital‑tax reforms that campaigners say could raise about £24 billion to £50 billion a year depending on measures adopted.
  • Ministers and officials have not endorsed the plan and pointed out wealthy individuals can already make voluntary contributions to HM Treasury using guidance on gov.uk instead of waiting for new legislation.
  • Right‑wing politicians and media outlets have seized on the signatories, especially Gary Lineker, citing his past tax disputes and film‑investment arrangements to question the campaign’s credibility.
  • Experts and campaigners note any formal wealth tax would need Office for Budget Responsibility costings, new rules on valuation and enforcement, and could affect investor confidence and wealthy residency choices.