THREE quarters of Brits want the rich to pay more taxes after more than 100 Britain-based millionaires, including Gary Lineker and musician Brian Eno, told Andy Burnham: “We can afford it.”
An open letter signed by 120 millionaires asked the new Prime Minister today to increase their taxes, joining the public in their demands to ensure “extreme wealth is taxed fairly to reduce inequality both at home and abroad.”
It was signed by well-known personalities, including TV presenter and former England striker Mr Lineker, former Greggs chairman Ian Gregg, film director Richard Curtis, influential music producer and Stop the War Coalition president Brian Eno and economics commentator Gary Stevenson.
“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,” they wrote.
Organised by the Patriotic Millionaires UK group, they called on Mr Burnham to help Britain “succeed,” adding: “Success requires investment and a primary source of untouched capital investment is sitting with us, in untaxed potential.”
Mr Lineker said: “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.”
The organisation of millionaires said Mr Burnham’s arrival in Downing Street was a fresh opportunity 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.”
A 2 per cent tax on wealth over £10m could raise £24bn a year, they said, while asking Mr Burnham equalise capital gains tax with income tax, which would raise a further £12bn.
The group added, referring to Mr Burnham’s flagship policy of devolution: “As you decentralise political power, you should also disperse economic power.
“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.”
Polling from Patriotic Millionaires found that 80 per cent of millionaires in Britain support a 2 per cent tax on wealth over £10m.
They were joined by a large majority of the public, with three quarters of the public (76 per cent) supporting this same tax, according to separate polling published today.
The YouGov, survey commissioned by charity Oxfam, found 71 per cent of those surveyed also believe the current economic system works mainly in the interests of the very wealthy rather than ordinary people.
Oxfam GB chief influencing officer Jean McLean said: “It’s clear the debate has shifted.
“Their message reflects what the public has been saying for some time: our tax system needs to do more to ensure extreme wealth is taxed fairly to reduce inequality both at home and abroad.
“At a time when we’re repeatedly told there isn’t enough money for the NHS, schools, social care, and the aid budget, asking those with assets worth more than £10 million to contribute a little more is a fair and practical solution.
“The scale of wealth inequality has reached extraordinary levels.
“This isn’t about punishing success. It’s about making political choices that ensure our economy works for everyone, not just those at the very top. And it’s something three quarters of the UK public support.
“The Prime Minister has promised to deliver a ‘circuit-breaker’ moment for Britain, now he must deliver it.
“When even millionaires are saying ‘tax us,’ politicians should seize the opportunity to build a fairer and more prosperous economy where those with the greatest wealth make a fairer contribution to the society from which they have benefited.”
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