A group of 120 wealthy British citizens has called on Prime Minister Andy Burnham to increase taxes on the nation's super-rich.
The open letter, signed on July 23, 2026, urges the government to fund public services and reduce economic inequality.
The campaign, organized by Patriotic Millionaires, includes high-profile signatories such as broadcaster Gary Lineker, music producer Brian Eno, screenwriter Richard Curtis, author Val McDermid, and former financial trader Gary Stevenson.
Proposed Wealth Tax
The group advocates for a 2 percent annual tax on wealth exceeding 10 million pounds.
They estimate this could raise 24 billion pounds annually, with an additional 12 billion pounds from capital gains tax reforms.
“We can afford it,” the letter states.
“We're not talking about higher taxes on those who get up and go to work for their income every day, but on the very richest whose income is derived from the wealth they hold.”
The coalition argues that concentrating extreme wealth harms the country's economy and democratic institutions. They call for a broader redistribution of financial power across all regions.
“Millionaires are a patriotic bunch. We love this country and we want it to succeed,” the letter reads.
“But success requires investment and a primary source of untouched capital investment is sitting with us, in untaxed potential.”
Lineker stressed that higher levies on extreme wealth align with basic national values.
“Paying your fair share is a basic British value, but so many ordinary people are already paying more than they can afford.”
He added that most wealthy individuals support higher contributions for a fairer society.
“Our richest people can do more and most want to.
To live up to our national values, our new government must raise taxes on extreme levels of wealth for a fairer, better, more hopeful Britain.”
Government Response
Chief Secretary to the Treasury Emma Reynolds welcomed the campaign but stated that any official tax policy changes would be announced during formal Budget announcements.
“I welcome the fact that people of good means are saying that they want to pay more. They can pay more.”
She noted that individuals can make voluntary donations to the Treasury.
Reynolds added, “Well, look, it is day four of this new government, and obviously any major tax changes would be announced at a budget.”
She emphasized the need to evaluate the economic system holistically before changing rates.
Prior to his appointment, Burnham indicated during a podcast interview that his administration might explore targeted tax adjustments.
“I do believe we need a greater sense of fairness and people feeling that things are being done in the right way and a fair way.”
He stated his intention to balance fiscal reform without creating unnecessary political division.
Conservative leader Kemi Badenoch pushed back against the letter, stating that high-net-worth citizens remain free to voluntarily donate excess capital to government funds.
Shadow chancellor Sir Mel Stride cautioned against spending commitments without detailed funding mechanics.
Academic research by Gabriel Zucman and Ben Tippet suggests that a targeted 2 percent tax on households with over 100 million pounds in assets could generate 10 billion pounds annually while affecting fewer than 1,000 households.
