A coalition of 120 millionaires has submitted an open letter to Prime Minister Andy Burnham advocating for increased taxation on the wealthy. The signatories, organized by the group Patriotic Millionaires, argue that they have the financial capacity to contribute more to the nation’s coffers and that such measures would benefit society broadly.
The letter distinguishes between taxing wage earners and taxing wealth accumulated through existing assets. The group specifically supports implementing a 2% tax on wealth exceeding £10 million. Notable signatories include former BBC presenter Gary Lineker, screenwriter Richard Curtis, musician Brian Eno, crime writer Val McDermid, and Ian Gregg, former managing director of the Greggs bakery chain. The letter emphasizes that wealthy individuals view themselves as patriotic and invested in the country’s success, arguing that untaxed capital held by the richest represents a potential source of investment for public benefit.
Conservative opposition leader Kemi Badenoch responded dismissively, noting that individuals already have the option to voluntarily donate money to the Treasury. Chief Secretary to the Treasury Emma Reynolds acknowledged the sentiment while indicating that any major policy changes would be announced through the formal Budget process. She reiterated that existing donation mechanisms remain available to those wishing to contribute additional funds.
The initiative reflects a broader advocacy effort by Patriotic Millionaires, with polling cited in the letter suggesting that a majority of millionaires support higher taxation on themselves. Brian Eno addressed concerns about wealthy individuals relocating abroad if taxed more heavily, arguing that such predictions have historically been used to discourage wealth taxation despite limited evidence of mass emigration from high-tax jurisdictions like Scandinavian countries.
Prime Minister Burnham had previously indicated openness to exploring additional taxation on the wealthy when discussing the matter with Lineker earlier this month. The renewed campaign comes after similar initiatives in previous years advocating for wealth redistribution policies.
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