Why Burnham Should Tax the Wealthy More | Opinion

When some of Britain’s wealthiest people publicly ask the government to tax them more, politicians should take notice.

That is exactly what more than 120 UK millionaires—including broadcaster Gary Lineker and music producer Brian Eno—have done in an open letter to Prime Minister Andy Burnham. Their message is simple: “We can afford it.”

In a political climate where almost every proposal for higher taxes is met with warnings that the wealthy will leave the country or stop investing, this intervention deserves serious attention. These are not campaigners demanding that someone else pays more. They are successful, wealthy individuals arguing that people like themselves should contribute a greater share.

Britain faces enormous financial pressures. The NHS requires sustained investment. Schools need funding. Local councils continue to struggle. Public transport, policing and social care all face demands that cannot simply be wished away. At the same time, millions of working families are still dealing with the lingering effects of the cost-of-living crisis, high housing costs and years of squeezed wages.

Successive governments have often chosen to place much of the tax burden on earned income. Workers pay income tax and National Insurance on every payslip while many of the wealthiest individuals derive much of their income from assets and investments. Whether that balance remains fair is a legitimate question for any government.

The millionaires’ proposal is not aimed at ordinary homeowners or small business owners. It focuses on those with very substantial wealth who, they argue, have benefited most from Britain’s economy and are best placed to contribute more towards maintaining it.

Critics will argue that higher taxes discourage investment and entrepreneurship. That concern should not be dismissed lightly. Britain needs successful businesses, innovation and investment to create jobs and economic growth. Any reform should therefore be carefully designed to avoid driving productive investment overseas or unfairly penalising genuine enterprise.

However, neither should governments automatically reject the idea simply because it is controversial. A well-designed tax system should reward success while ensuring that those with the greatest ability to contribute do so fairly.

Perhaps the most striking aspect of this debate is who is making the argument. It is not trade unions, opposition politicians or anti-capitalist campaigners. It is millionaires themselves. They believe Britain’s public services, infrastructure and social stability helped create the conditions that allowed them to prosper. In return, they believe they should contribute more.

Andy Burnham has repeatedly spoken about creating a fairer Britain that works for everyone, not just those at the top. If that ambition is genuine, then listening to this appeal would be a sensible place to start.

That does not necessarily mean adopting every proposal put forward by the campaign. But it should mean opening a serious national conversation about whether Britain’s tax system still reflects modern levels of wealth and inequality.

Governments frequently struggle to find additional revenue without placing further pressure on working households. When some of the country’s wealthiest citizens voluntarily offer to shoulder more of that burden, it would seem unwise to dismiss them out of hand.

Our View

At TheNewsToday.eu, we believe Prime Minister Andy Burnham should give this proposal careful consideration. A fair society depends not only on rewarding success but also on ensuring that prosperity benefits the country as a whole.

When those who have gained the most from Britain’s economy say they are willing to contribute more, government should be prepared to listen.