UK Millionaires Propose Wealth Tax
120 UK Millionaires Urge Wealth Tax Hike to Fund Public Services and Reduce Inequality
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Key Points
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The open letter was signed by about 120 UK‑based millionaires, not just “more than 100.”
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Richard Curtis is also among the signatories, joining names such as Val McDermid, Brian Eno, Ian Gregg, Gary Stevenson and Julia Davies.
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Reform UK described the move as 'virtue signalling' and Conservative figures warned it could deter investment and cost jobs.
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The campaign cites a claim that a 2% tax on wealth over £10 million could raise around £24 billion a year for public services.
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Poll data cited by Patriotic Millionaires UK show strong backing among UK millionaires for tax fairness: about 88% are proud to live in the UK and 80% support a 2% wealth tax on assets over £10 million.
About 120 UK-based millionaires — including Gary Lineker, Richard Curtis, and Brian Eno — have signed an open letter urging Prime Minister Andy Burnham to raise taxes on their wealth. Hull Daily Mail The letter, organised by the group Patriotic Millionaires UK and titled 'Proud to Pay,' argues that wealth should carry a bigger tax burden than wages from everyday work.
The signatories propose a 2% annual tax on wealth above £10 million. They say it could raise around £24 billion a year for public services, infrastructure, and small businesses. Leicester Mercury
Lineker and Peers Frame This as a British Values Issue
Gary Lineker is the most recognisable face on the letter. He frames the campaign as a question of national fairness, not personal sacrifice. Other signatories include novelist Val McDermid, economist Gary Stevenson, Greggs chairman Ian Gregg, and writer-director Julia Davies. Grimsby Telegraph
The letter calls for wealth — not income from daily work — to bear a larger share of the tax load. The signatories say this is a fresh chance to rebalance economic power while the country also decentralises political power under Burnham's leadership. Kent Live
Poll Data Shows Millionaires Back Wealth Tax Broadly
Patriotic Millionaires UK cited polling that shows strong support among wealthy Britons. About 88% say they are proud to live in the UK. Around 80% say they support a 2% wealth tax on assets above £10 million. Head Topics UK
The group argues these numbers show that tax fairness is not a fringe idea among the ultra-rich. They say millionaires want their wealth to help fund the public services and infrastructure that allowed them to succeed in the first place. Hull Daily Mail
Critics Warn the Plan Could Drive Away Investment
Not everyone welcomes the proposal. Reform UK called it 'virtue signalling.' Conservative figures warned the tax could push wealthy people and businesses out of Britain, costing jobs and reducing investment. Kent Live
These critics argue that high wealth taxes have failed in other countries. Several European nations, including Sweden and France, scaled back or scrapped similar taxes after seeing capital flight. They say the £24 billion revenue figure may be optimistic. Grimsby Telegraph
Capital Gains Reform Also Sits Alongside the Proposal
The wealth tax is not the only idea on the table. Discussions around reforming capital gains tax — the levy paid when someone sells an asset for a profit — are running alongside the letter's push. Leicester Mercury Capital gains is often taxed at a lower rate than earned income, a gap the signatories say is unfair.
Patriotic Millionaires UK says the campaign is about more than one tax. They want a broader shift in how Britain thinks about wealth and public life. The letter is addressed directly to Burnham, framing him as the leader with a mandate to act. Hull Daily Mail
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