{"id":4144,"date":"2026-07-24T21:12:42","date_gmt":"2026-07-24T21:12:42","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=4144"},"modified":"2026-07-24T21:12:42","modified_gmt":"2026-07-24T21:12:42","slug":"120-millionaires-have-signed-a-letter-begging-the-british-government-to-tax-them-more-we-can-afford-it","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=4144","title":{"rendered":"120 millionaires have signed a letter begging the British government to tax them more: \u2018We can afford it\u2019"},"content":{"rendered":"
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The \u201cProud to Pay\u201d campaign, organized by Patriotic Millionaires UK, has drawn support from some of the country\u2019s biggest stars\u2014including the likes of former footballer Gary Lineker, and legendary music producer Brian Eno.<\/p>\n

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\u201cWe want you to tax us. We can afford it,\u201d the campaign\u2019s press release reads. \u201cWe\u2019re 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.\u201d<\/p>\n

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The group proposes a 2% tax on wealth over \u00a310 million ($13.3 million)\u2014which is supported by 80% of U.K. millionaires\u2014that would generate around \u00a324 billion ($32 billion) every year.\u00a0<\/p>\n

The letter also recommends that reforms to capital tax gains, including aligning capital gains tax rates with income tax, could give the Treasury an annual \u00a312 billion ($16 billion) boost. In total, Patriotic Millionaires UK and fellow advocacy group Tax Justice UK outline 10 tax reforms and closed loopholes, including strengthening inheritance taxes and cracking down on offshore tax avoidance.<\/p>\n

If the government follows through, the organizations estimate \u00a350 billion ($66.5 billion) could be raised yearly.\u00a0<\/p>\n

By forking over more of their fortunes, the group argues that higher taxation would \u201cdisperse economic power\u201d to those who need it most. They say the country\u2019s \u201cextreme wealth\u201d can be harnessed to tackle its biggest economic and social challenges by reducing inequality, creating more sustainable jobs, supporting small businesses, and investing in hospitals, social care, and schools.\u00a0<\/p>\n

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Patriotic Millionaires UK had no further comments to share with Fortune<\/em>.<\/p>\n

U.K.\u2019s entertainment stars and entrepreneurs have signed the letter<\/h2>\n

The idea of taxing the rich has drawn polarizing reactions from the world\u2019s wealthiest. Plus some critics have referenced the fact that there are already other ways for millionaires to contribute their wealth; chief secretary to the Treasury, Emma Reynolds, welcomes the idea of them paying more in taxes if they so wish, while pointing to the department\u2019s donation link that is live.\u00a0<\/p>\n

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But some of Britain\u2019s biggest names in entertainment are backing the campaign.\u00a0<\/p>\n

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Eno\u2014who has made millions during a career pioneering ambient music and producing artists from David Bowie to U2\u2014is among the list of signatories. And entertainment stars who have made millions on the silver screen are also calling for higher taxes: Shaun of the Dead<\/em> and Hot Fuzz <\/em>actor Simon Pegg has signed the letter, as has Richard Curtis, the filmmaker behind beloved hits including Notting Hill, Love Actually<\/em>, and About Time<\/em>.<\/p>\n

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Former England striker Lineker\u2014who has earned millions through his soccer career and broadcasting work\u2014also added his name to the list. In the letter, he praised his home country and said he was proud to stand alongside others working to build a \u201cmore equal society.\u201d<\/p>\n

\u201cPaying your fair share is a basic British value, but so many ordinary people are already paying more than they can afford,\u201d Lineker wrote in the campaign\u2019s press release. \u201cOur 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.\u201d<\/p>\n

Other signatories include crime novelist Val McDermid, Ecotricity founder Dale Vince, ex-financial trader turned equality campaigner Gary Stevenson, and philanthropist Julia Davies.<\/p>\n

The U.K. is up against an economic inequality and cost-of-living crisis<\/h2>\n

As wealth inequality widens and the cost-of-living crisis is exacerbated by persistently high housing, food, and energy costs, many U.K. households are feeling the squeeze.<\/p>\n

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Income inequality in the U.K. remains among the highest in Europe, trailing only the United States among wealthy nations, according to the OECD. The richest 1% of Britons own 21.3% of the country\u2019s wealth, while the poorest 50% own just 4.6%, according to a 2026 report from Oxfam. The average 1%-er holds 456 times more wealth than someone in the bottom half of the population. And the 56 richest people in the U.K. now lord over more wealth than the poorest 27 million people combined.<\/p>\n

And while billionaires and millionaires are watching their bank accounts surge thanks to appreciating assets, others are scraping by to make ends meet. The richest 10% of households in the country held around half of total assets\u2014a share that hasn\u2019t budged since the 1980s\u2014according to a 2025 study from the Resolution Foundation. The household wealth for an adult in that top group was around \u00a31.3 million ($1.7 million) greater than the median in 2020 to 2022. A worker on an average income would have to work for 52 years to close the difference.\u00a0<\/p>\n

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Millionaires including Brian Echo, Gary Lineker, and Simon Pegg have signed a letter to U.K.\u2019s prime minister asking for higher taxes to tackle inequality.<\/p>\n","protected":false},"author":1,"featured_media":4143,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[257],"tags":[],"class_list":["post-4144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-millionaires"],"yoast_head":"\n120 millionaires have signed a letter begging the British government to tax them more: \u2018We can afford it\u2019 - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=4144\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"120 millionaires have signed a letter begging the British government to tax them more: \u2018We can afford it\u2019 - 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