More than 120 UK millionaires have sent an open letter to new British Prime Minister Andy Burnham demanding higher taxes on the country’s ultra-wealthy to help fund public services and reduce economic inequality, according to reports confirmed by Al Jazeera and Anadolu Agency on Thursday. The letter, titled "Proud to Pay" and organized by the campaign group Patriotic Millionaires UK, emphasizes that wealthy citizens are eager to contribute more toward national renewal. High-profile signatories include former England football captain and broadcaster Gary Lineker, musician Brian Eno, film director Richard Curtis, and actress Julia Davies.
The campaign specifically advocates for the introduction of a two percent annual tax on personal wealth exceeding 10 million pounds. According to economic estimates provided by Patriotic Millionaires UK, this single tax measure could generate approximately 24 billion pounds annually for the British Treasury. Furthermore, reforming capital gains tax to align it with standard income tax rates could raise an additional 12 billion pounds each year. The group argued that the current tax structure unfairly burdens ordinary working individuals who earn their income through labor while offering favorable treatment to accumulated capital and investment returns.
Expressing his support for the campaign, broadcaster Gary Lineker stated that paying a fair share of tax is a fundamental national value that should be shared by those with the greatest financial capability. Lineker noted that millions of ordinary citizens across the United Kingdom are already struggling under significant financial pressure due to the rising cost of living. He urged the new administration to rebalance economic power by taxing extreme levels of wealth, arguing that investing unutilized private capital into public infrastructure, hospitals, schools, and small business support would benefit the entire nation.
Responding to the open letter, Chief Secretary to the Treasury Emma Reynolds told Sky News that the government welcomes the willingness of high-net-worth individuals to pay more to the state. However, Reynolds indicated that any major changes to national tax policy would only be evaluated and announced during formal budget presentations. She pointed out that while individuals can currently make voluntary financial contributions to the government through official channels, comprehensive tax reform requires thorough evaluation of economic impacts across all sectors.
The proposal has sparked intense debate among political analysts and economic commentators regarding the potential consequences of wealth taxation. Critics warn that imposing higher levies on multi-millionaires could trigger capital flight, discourage foreign investment, and prove administratively complex to execute. Conversely, supporters contend that wealthy residents remain in the country for its high quality of life, Rule of Law, and public institutions, rather than solely for tax advantages. What remains unclear is whether Prime Minister Andy Burnham will incorporate a statutory wealth levy into his broader fiscal strategy or seek alternative economic measures to address public sector deficits.
