Gary Lineker and over 100 other wealthy individuals have added their names to a letter calling on the government to increase taxes on the affluent. The group, known as Patriotic Millionaires UK, stated in their letter to Andy Burnham, 'We want you to tax us. We can afford it.' Signatories include musician Brian Eno and economist Gary Stevenson.
However, the proposal has been met with skepticism from some political figures and analysts, who have labeled it as 'virtue signalling' and suggested that those willing to pay more could do so immediately through voluntary contributions. A senior Treasury minister pointed out that the UK government's website, gov.uk, provides a mechanism for individuals wishing to pay additional tax.
Kemi Badenoch, a Treasury minister, stated that there is "nothing stopping" Mr. Lineker from writing a cheque to the Treasury. She cautioned, however, that increasing taxes on wealthy investors could potentially harm the economy. "If we keep taxing the people who create the jobs, who generate the growth, we're not going to have any taxes at all," Badenoch said. She emphasized that supporting businesses to create jobs and growth is a more effective way to raise the standard of living and address the cost of living crisis.
Similarly, Shimeon Lee, a policy analyst at the TaxPayers' Alliance, commented that if Mr. Lineker is eager to pay more tax, he can do so voluntarily. Lee argued against a wealth tax, suggesting it would drive wealth out of the country and impose costs on ordinary taxpayers.
The gov.uk website offers guidance for individuals and businesses who wish to make voluntary contributions to HM Government. These contributions can be directed to the Treasury to support public spending or to the Debt Management Office to reduce the national debt.
Reform UK shadow chancellor Robert Jenrick and Tory MP Louie French echoed the sentiment, stating that those who wish to pay more tax are not prevented from doing so by writing a cheque to the Treasury. Julian Jessop, economics fellow at the Institute of Economic Affairs, suggested that voluntary donations are not an efficient use of funds, as there is no guarantee they would be well-spent. He proposed that direct donations to charities would be a more sensible way for wealthy individuals to act patriotically.
Mr. Lineker, whose wealth is estimated at £30 million, believes that paying one's "fair share" is a core British value. He argued that while many ordinary people are struggling, the wealthiest individuals can and should contribute more to foster a fairer society. The letter from Patriotic Millionaires UK specifically called for taxes on "extreme wealth sitting idle in the hands of a few" to reduce inequality and improve public services, proposing that "it's time to tax us, the super rich."
Calls for an annual levy on the assets of the super-rich have been ongoing, with some academics suggesting that a 2% charge on assets exceeding £100 million could raise approximately £10 billion annually. Andy Burnham, Mayor of Greater Manchester, has previously indicated that he is not ruling out such measures, stating his belief in greater fairness.