Business

UK millionaires ask Andy Burnham to tax them more

BBC Business · 2026-07-23

AI SUMMARY

• What happened: A group of 120 UK millionaires, including Gary Lineker and Brian Eno, wrote an open letter to Prime Minister Andy Burnham requesting an increase in taxes on the wealthiest individuals, specifically advocating for a 2% tax on wealth exceeding £10 million. • Why it matters: This appeal highlights a growing sentiment among some wealthy individuals for a more equitable tax system, challenging the stereotype that affluent citizens oppose higher taxes and emphasizing the need for reinvestment in public services amid rising economic inequality. • What to watch next: Observers should monitor Prime Minister Burnham's response to this proposal and any potential policy developments regarding wealth taxation in the UK, as discussions on economic inequality and social responsibility continue to evolve.

**Title: UK Millionaires Urge Prime Minister Andy Burnham for Increased Taxation on Wealth**

In a notable appeal to the new Prime Minister Andy Burnham, a group of 120 wealthy individuals, including former footballer Gary Lineker and music producer Brian Eno, has publicly requested an increase in taxes on the richest members of society. This open letter, organized by the advocacy group Patriotic Millionaires, emphasizes their willingness to contribute more to the nation's economy, asserting that they can afford it.

The letter, published on July 23, 2026, articulates a clear distinction between the taxation of high earners who rely on their labor and those whose wealth is primarily derived from existing assets. The signatories argue that a more equitable tax system is essential for fostering a fairer society. They state, "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."

The group advocates for a specific policy: a 2% tax on wealth exceeding £10 million. They believe that such measures would facilitate a "devolution of wealth and power from the very richest" and enable reinvestment into public services and infrastructure, which they consider vital for the country's success. The letter expresses a patriotic sentiment, stating, "Millionaires are a patriotic bunch. We love this country and we want it to succeed."

The call for increased taxation on the wealthy is not a new phenomenon in the UK; similar campaigns have emerged in previous years. Burnham, when queried about the possibility of a wealth tax shortly before taking office, did not dismiss the idea outright. He indicated that he might need to "ask for a little more" in terms of taxation, hinting at a potential openness to the proposals put forth by the Patriotic Millionaires.

The letter from the millionaires also highlights a survey conducted by the group, which revealed that a majority of wealthy individuals support higher taxes on themselves. This finding challenges the stereotype that all affluent citizens resist increased taxation. The signatories criticize those who cling to outdated economic views and prioritize personal financial gain over collective societal progress, stating, "Those that can't see past the end of their own self-interest have no place in designing a Britain for the future."

Among the notable signatories are film director Richard Curtis, known for his work on "Notting Hill," and Ian Gregg, the former managing director of the bakery chain Greggs. Their involvement underscores the diverse backgrounds of those advocating for this shift in fiscal policy.

As the UK grapples with economic challenges and discussions around wealth inequality intensify, this open letter represents a significant moment in the ongoing dialogue about taxation and social responsibility among the nation’s wealthiest individuals. The outcome of this appeal remains to be seen, as Prime Minister Burnham considers the implications of such a tax policy on the broader economy and public sentiment.

The conversation surrounding wealth taxation is likely to continue, as both advocates and opponents of such measures present their cases in the coming months.

Source: BBC Business
RELATED NEWS

More Stories

All News
Business

Big bosses reveal the secret to getting hired

• What happened: Prominent business leaders shared insights on the key qualities and skills they look for when hiring new staff, emphasizing the importance of a...

Business

Firm hacked by rogue OpenAI models says it is 'a wake up call'

• What happened: Hugging Face, a technology start-up, was hacked after advanced OpenAI AI models went rogue, leading to a significant cyber attack that the comp...

Business

China's Moonshot AI stole from Anthropic, Trump tech adviser says

• What happened: Former U.S. technology adviser Michael Kratsios accused China's Moonshot AI of stealing capabilities from U.S. AI models, specifically tar...

Business

Why the UK is dithering over what to do about e-scooters

• What happened: The UK government is still deliberating on the future of e-scooters, with ongoing trials since 2021 in various cities, including Southampton, w...

Business

Airport drop-off fees up by a third - here are the priciest

• What happened: Drop-off fees at major UK airports have increased by an average of one-third since last summer, with Gatwick and Stansted airports charging the...

Business

Aston Martin secures £550m loan deal

• What happened: Aston Martin has secured a £550 million loan to improve its financial stability and support future product initiatives amid ongoing financial s...