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Millionaires urge Andy Burnham to raise taxes on the very richest
The open letter says it would target income derived from wealth holdings, and the Treasury’s chief said any major changes would be set out at a Budget.
A group organized by Patriotic Millionaires has sent an open letter to new UK prime minister Andy Burnham urging higher taxes on the very richest, including former England footballer Gary Lineker and music producer Brian Eno, saying they “can afford it.” The letter argues the focus should be on the ultra wealthy whose income is derived from wealth held, rather than on people who earn income from day-to-day work. It says the plan would support a more equal society and calls for a devolution of wealth and power away from the very richest, adding that its signatories want reinvestment across regions. The campaign notes that individuals can already make voluntary donations of money or stocks to the Treasury using an online facility. Emma Reynolds, chief secretary to the Treasury, said she would welcome millionaires increasing the amount of tax they pay, but any major policy changes would be announced during a Budget. The renewed push comes after prior campaigns for higher taxes on the wealthy. Burnham did not rule out a wealth tax when asked around the time he became prime minister, and the letter points to a poll by Patriotic Millionaires that it says shows most millionaires want higher taxes on themselves.