More Than 100 UK Millionaires Ask New PM Andy Burnham to Tax Them More

A group of 120 millionaires in the United Kingdom has appealed to new Prime Minister Andy Burnham to increase taxes on the super-rich. The group, calling themselves "Patriotic Millionaires," released an open letter on Thursday titled "Proud to Pay." Signatories include sports broadcaster Gary Lineker and actress Julia Davies.

In the letter, the millionaires argue that wealth and power have been concentrated in a small group for too long, harming the country, its people, democracy, and the environment. "For a better Britain, this has to change," they wrote. The funds raised from higher wealth taxes could be used to reduce inequality, support public infrastructure, and back small businesses.

Lineker said paying a fair share is a basic British value, but many ordinary people are already paying more than they can afford. "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," he stated.

Chief Secretary to the Treasury Emma Reynolds welcomed the initiative but gave no indication of policy change, noting that major tax announcements are made in budgets and that the government is only four days old.

Burnham, who has focused on addressing the rising cost of living, has suggested the government may "ask for a little bit more" in taxes and mentioned the possibility of a wealth tax. A report by economists Gabriel Zucman and Ben Tippet estimates that a 2% annual tax on Britain's super-wealthy (those with assets over £100 million) could raise about £10 billion per year. According to Patriotic Millionaires, a 2% tax on wealth above £10 million could generate £24 billion annually, while capital gains tax reforms could add £12 billion more.