A group of wealthy Britons are calling for increased taxes on the rich, claiming that such measures could “lift kids out of poverty” and significantly contribute to rebuilding public services.
The campaign group, Patriotic Millionaires, believes Chancellor Rachel Reeves could generate up to £36 billion annually through reforms to capital gains tax and the introduction of a new wealth tax.
This appeal comes ahead of Ms Reeves’s upcoming Budget announcement in Westminster later this month.
Group member Phil White said: “It’s time for the wealthiest – people like us – to pay a fairer share, so we can help lift these kids out of poverty and begin rebuilding our public services and communities right across the UK.”
Speaking as Patriotic Millionaires began a tour to take its message to key cities across the UK, Mr White added: “We all want to live in a society where everyone has a decent shot at life – but at the moment that just isn’t the case.
“The gap between the super-rich and everyone else grows by the day.
“In Scotland, around one in five children live in poverty, while the country’s five richest families own a combined £19.3 billion – more wealth than a quarter of the population put together.”
Over the coming week, the group’s custom “Tax The Super-Rich” bus will travel to a series of cities, including Newcastle, Manchester, Liverpool, Birmingham, and London.
With the tour getting underway in Edinburgh on Wednesday, Patriotic Millionaires said figures released under freedom of information showed at least 206 public facilities in Scotland had either closed or been handed over to community groups in the past five years.
The figure includes 53 community centres and 27 parks, it added, with the group saying across the UK, one local public service or facility has shut down every three days since 2020, including children’s centres, swimming pools, libraries, and youth centres.
Speaking on behalf of fellow campaigners Tax Justice Scotland, Jamie Livingstone, the head of Oxfam Scotland, said: “This data paints a deeply worrying picture that will be all too familiar to communities across Scotland.
“People are watching their local facilities disappear, with wider public services stretched threadbare too. Yet they also know that the wealth of a privileged few across the UK keeps climbing.
“It’s encouraging to hear millionaires themselves saying, ‘enough is enough’ because they know our tax system simply isn’t fair.”
Mr Livingstone added: “Better taxing extreme wealth isn’t radical, it’s responsible, long overdue and the UK Chancellor should get on and do it.”
A Treasury spokesperson said: “The Chancellor has set out the context for the Budget, recognising global and long-term economic challenges.
“It will continue to build the strong foundations to secure Britain’s future and on the priorities of the British people – cutting waiting lists, cutting national debt and cutting the cost of living.”
