- Over 100 UK-based millionaires, including Gary Lineker, Richard Curtis, and Val McDermid, have publicly urged new Prime Minister Andy Burnham to implement a wealth tax on the country’s richest individuals.
- Organised by Patriotic Millionaires UK, the group sent a letter to Mr Burnham stating, ‘We want you to tax us. We can afford it,’ emphasising that the tax should target wealth-derived income rather than earned income.
- The millionaires argue that taxing the super-rich is a ‘patriotic’ act that would contribute to a ‘better Britain’ and help fund public services, addressing the cost of living crisis and reducing wealth inequality.
- Proposed mechanisms for a wealth tax include a 2 per cent levy on assets exceeding £10 million, which Patriotic Millionaires UK estimates could generate £24 billion annually, alongside reforms to capital gains tax.
- The intervention comes as Prime Minister Burnham, who has not ruled out a wealth tax, faces scrutiny over how he will fund his recently announced policies aimed at easing the cost of living, such as capping bus fares and cutting electricity bills.
You can find the full list of signatories here.
