UK millionaires ask Andy Burnham to tax them more
26 minutes ago
Faarea MasudBusiness reporter
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Millionaires including former footballer Gary Lineker and music producer Brian Eno have written to new prime minister Andy Burnham asking to be taxed more.
In an open letter, 120 well-off Britons told Burnham: "We can afford it. 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."
Organised by Patriotic Millionaires, the letter said it would lead to a more equal society, and urged a "devolution of wealth and power from the very richest".
People can already give money or stocks voluntarily to the Treasury using its donation facility.
The group supports a 2% tax on wealth over £10m.
"Millionaires are a patriotic bunch," the letter states. "We love this country and we want it to succeed.
"But success requires investment and a primary source of untouched capital investment is sitting with us, in untaxed potential."
Other signatories include Richard Curtis, director of Notting Hill and Love Actually and Ia Gregg, the former managing director of Greggs and son of the bakery chain's founder.
The renewed call for higher tax on the wealthy follows a similar campaigns in previous years.
Burnham did not rule out a wealth tax when asked about it by Lineker a few days before he became prime minister.
He suggested he may have "to ask for a little more" tax at some point.
The latest call from Patriotic Millionaires said there is a "need to embrace a new kind of devolution of wealth and power, from the very richest in order to reinvest back into our greatest asset in every region".
It added that in its own poll, the majority of millionaires wanted a higher tax on themselves.
"There are a few people left with outdated economic thinking and few others desperate to hold onto every penny they can... Those that can't see past the end of their own self interest have no place in designing a Britain for the future," the letter said.
