UK millionaires wealth tax letter urges higher taxes on the richest
A Patriotic Millionaires UK campaign asks Prime Minister Andy Burnham to raise taxes on extreme wealth, saying reforms could raise £50 billion a year.
By Maya Lindqvist · Senior Technology Correspondent
3 min read
A uk millionaires wealth tax campaign has put 120 wealthy Britons behind an open letter calling on Prime Minister Andy Burnham to raise taxes on the richest people in the country. The signatories, organized through the “Proud to Pay” campaign by Patriotic Millionaires UK, say wealth-based taxes could help fund public services and reduce inequality.
Patriotic Millionaires UK said the letter is aimed at people whose income comes from assets and accumulated wealth, rather than wages. In a campaign statement, the group said: “We want you to tax us. We can afford it.”
The campaign has support from public figures including former England footballer and broadcaster Gary Lineker, music producer Brian Eno, actor Simon Pegg and filmmaker Richard Curtis, according to Patriotic Millionaires UK.
What tax changes are the UK millionaires asking for?
The central proposal is a 2% annual tax on wealth above £10 million, or about $13.3 million. Patriotic Millionaires UK said that measure is backed by 80% of U.K. millionaires and could raise about £24 billion, or $32 billion, each year.
In this proposal, the levy would apply only to wealth above the threshold, not to ordinary income from work. The campaign argues that such a tax would shift more of the burden toward people who benefit from rising asset values.
Patriotic Millionaires UK and Tax Justice UK also set out other changes, including capital gains tax reforms. The groups said aligning capital gains tax rates with income tax could bring in £12 billion, or $16 billion, annually for the Treasury.
Across 10 proposed tax reforms and loophole closures, including inheritance tax changes and tougher action on offshore tax avoidance, the two organizations estimate the government could raise £50 billion, or $66.5 billion, a year.
Who signed the letter?
Brian Eno, known for his work in ambient music and as a producer for artists including David Bowie and U2, is among the signatories. Simon Pegg, whose films include “Shaun of the Dead” and “Hot Fuzz,” also signed, as did Richard Curtis, the writer and director associated with “Notting Hill,” “Love Actually” and “About Time.”
Lineker also added his name. In a statement released by the campaign, he said paying a fair share is a British value and argued that the government should raise taxes on extreme wealth to build “a fairer, better, more hopeful Britain.”
Other named backers include crime writer Val McDermid, Ecotricity founder Dale Vince, former financial trader and equality campaigner Gary Stevenson, and philanthropist Julia Davies.
Why the campaign points to inequality
The campaign says higher taxes on extreme wealth could spread economic power and support spending on hospitals, social care, schools, sustainable jobs and small businesses.
The U.K. has high income inequality compared with much of Europe and ranks behind only the United States among wealthy nations, according to the OECD. Oxfam reported in 2026 that the richest 1% of Britons own 21.3% of the country’s wealth, while the poorest half own 4.6%.
Oxfam also said the 56 richest people in the U.K. hold more wealth than the poorest 27 million people combined. The Resolution Foundation reported in 2025 that the richest 10% of households held about half of all assets, a share it said had changed little since the 1980s.
Chief Secretary to the Treasury Emma Reynolds has pointed to the government’s existing option for voluntary payments and donations, while welcoming extra payments from people who want to contribute more. The campaign’s signatories argue voluntary giving is not a substitute for tax policy aimed at extreme wealth.
This story draws on original reporting from Fortune.