In a letter to Andy Burnham – organised by the Patriotic Millionaires group – they say: ‘As millionaires we have a clear message for you, our new Prime Minister: tax us’
Gary Lineker has joined more than 100 UK-based millionaires calling on new Prime Minister Andy Burnham to tax their wealth.
In a letter to the Labour leader – organised by the Patriotic Millionaires group – they say: “As millionaires we have a clear message for you, our new Prime Minister: tax us. We are proud to pay and here to stay. 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.”
Signatories include former England striker Lineker alongside Ian Gregg, the former chairman of the sausage roll chain Greggs, and film director Richard Curtis – behind hits including Love Actually and Notting Hill.
Others include the Scottish author Val McDermid, former City trader and economist Gary Stevenson, and climate expert and author Michael Berners-Lee, whose brother was the inventor of the internet.
Former Match of the Day presenter Lineker, who added his name to the letter of 120 millionaires, said: “Our fantastic country deserves all of us to get behind it. I’m proud to stand with people across the UK who want to live in a more equal society.”
He added: “Paying your fair share is a basic British value, but so 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.”
There are various forms of wealth taxes, but Patriotic Millionaires claim a 2% tax on the assets of the super-rich over £10million could raise £24billion for the Treasury.
Just a tiny proportion of the population would also be hit by the move – fewer than 0.04% or around 20,000 people, according to Tax Justice UK. Previous research for The Mirror has also found a wealth tax on the 350 wealthiest families alone – including 156 billionaires – could raise a whopping £15billion.
A tax on wealth could cover over a third of the total core schools budget in England, which stood at around £65billion in 2025-2026. It could also cover an extension of free school meals to all school-aged children in England, with plenty of cash left over. Research from the Child Poverty Action Group in 2023 found this would come at a cost of £2billion-per-year to the taxpayer.
It would be more than enough to end the housing benefit freeze – £1.5billion annually – that charities have blamed for leaving people on the breadline. Separately, it would be more than enough to plug the entire funding gap in defence spending of £4.7billion while helping the UK reach 3% of GDP spending by 2029-30, which would cost between £13 billion and £17 billion per year.
Before entering No10 earlier this week, Mr Burnham did not rule out a wealth tax in an interview with Lineker. The new Labour leader said: “I’m not going rule things out right now. 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.
“But at the same time, you know, I don’t want to sort of be perceived as somebody who’s coming in with grudges and agendas and, you know, going to just immediately find or demonise one group or create a new way of dividing people.”
He added at the time: “And at some point that might be having to ask for a little more. But, you know, those decisions are not for now. They’re for another day.”
Patriotic Millionaires adds that equalising capital gains tax – the levy paid on profits made on the sale of an asset – with income tax could also bring in £12billion.
Wes Streeting, who was appointed Defence Secretary earlier this week, called for this measure when he quit Keir Starmer’s Cabinet in May, saying it was a “wealth tax that works”.
Such a move is unlikely to breach Labour’s manifesto, which pledged to protect working people from hikes to VAT, national insurance and income tax.
But Jonathan Reynolds, the current Business Secretary, dismissed the idea of a wealth tax as “daft” in 2025.
He added at the time Labour had already imposed taxes on wealthy Brits, saying: “This Labour Government has increased taxes on wealth as opposed to income – the taxes on private jets, private schools, changes through inheritance tax, capital gains tax.”
Critics of a wealth tax have argued the introduction of levy would result in the super-rich fleeing the country to avoid the extra costs of living in Britain. While some would likely leave, there appears to be little concrete evidence to point to a potential mass exodus of millionaires.
Instead, recent research by Patriotic Millionaires by Survation found 75% would be be willing to pay more tax to help protect and strengthen the social, cultural and economic foundations they value in Britain.
But the UK-based millionaires who have signed the letter organised by Patriotic Millionaires add: “Extreme wealth sitting idle in the hands of a few can be put to work: reducing inequality, investing in sustainable jobs, strengthening hospitals, schools and social care, supporting entrepreneurs with the skills and infrastructure they need, and giving small businesses access to affordable finance.
“Our wealth is our country’s secret weapon – let’s get serious about using it.
“There are a few people left with outdated economic thinking and few others desperate to hold onto every penny they can. But they are a minority. Those that can’t see past the end of their own self interest have no place in designing a Britain for the future.”
Julia Davies, member of Patriotic Millionaires UK, added: “This is a fresh opportunity for our country. A chance for the Prime Minister to help rebalance power, reduce the shocking levels of wealth inequality which intensifies the cost of living crisis, and raise much-needed revenue for our public services, improving life for everyone.
“We millionaires are here to be taxed more and we urge our new PM to grab this opportunity with both hands and tax our wealth.”
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