More than 100 UK millionaires ask new PM Andy Burnham to tax them more

A coalition of more than 120 British millionaires has formally petitioned the new Prime Minister Andy Burnham to increase taxation on high-net-worth individuals. The group, which identifies itself as 'Patriotic Millionaires', released a public letter on Thursday expressing willingness to contribute more to the national treasury. Among the signatories are prominent figures including former footballer and broadcaster Gary Lineker and actress Julia Davies.

The millionaires argue that wealth concentration among a small segment of the population has created systemic problems affecting the broader society, including damage to democratic institutions and environmental stewardship. They contend that additional revenue from higher taxes on the wealthy could be redirected toward reducing inequality, strengthening public infrastructure, and supporting small business development. Lineker emphasized that Britain's richest citizens possess the financial capacity to contribute more while ordinary citizens struggle with affordability challenges.

The Treasury's Chief Secretary Emma Reynolds acknowledged receipt of the letter but declined to commit to policy changes, noting that major tax decisions are typically announced during budget presentations. Prime Minister Burnham has previously indicated openness to wealth taxation as part of his administration's cost-of-living agenda, suggesting the government may 'ask for a little bit more' from high earners.

Economic research cited in the letter suggests that a 2 percent annual minimum tax on individuals holding assets exceeding 100 million pounds could generate approximately 10 billion pounds in annual revenue while addressing wealth inequality. The analysis, conducted by economists Gabriel Zucman and Ben Tippet, recommends such a measure as both revenue-generating and inequality-dampening.