A group of 120 UK-based millionaires has publicly called on the new Labour prime minister, Andy Burnham, to tax their wealth more heavily, intensifying the domestic debate over fiscal policy just weeks into his premiership. The open letter, published by the campaign group Patriotic Millionaires UK, argues that higher taxes on the very richest could help fund strained public services and reduce inequality, and it lands as the government contends with a slowing economy, rising inflation, and the costs of military engagement with Iran.

The signatories — who include former England footballer Gary Lineker, musician Brian Eno, screenwriter Richard Curtis, and former Greggs managing director Ian Gregg — propose a 2% annual tax on individual wealth exceeding £10 million. The group estimates this would affect fewer than 0.04% of the population, roughly 20,000 people, and could generate around £24 billion per year. The letter distinguishes between income from work and income derived from assets, stating: “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.”

The initiative has drawn contrasting reactions across the political spectrum. Burnham, who before taking office told Lineker in a podcast that the government might “have to ask for a little more” from the wealthiest, has not ruled out a wealth tax, though his election manifesto excluded increases to main tax rates. Chief Secretary to the Treasury Emma Reynolds welcomed the willingness to pay more, while noting that any major changes would be set out in a Budget. Opposition figures, however, warned of capital flight: Conservative leader Kemi Badenoch said Lineker could simply write a cheque to the Treasury, and Reform UK argued the measure would deter investment.

Patriotic Millionaires, which originated in the United States after the 2008 financial crisis and now has branches in the UK and Canada, frames the demand as a patriotic act. The group’s own polling suggests 75% of UK millionaires support higher taxes on themselves, and 88% are proud to live in Britain. The letter calls for a “devolution of wealth and power” and insists that fears of a rich exodus are overstated, pointing to high-tax Scandinavian countries that retain wealthy residents. The next concrete milestone will be the government’s first Budget, where any shift in wealth taxation would be announced.