Andy Burnham took office as British prime minister on July 20, after being elected leader of the Labour Party, amid an economic crisis, widespread criticism of his predecessor, and, in general, a significant loss of confidence in the government.
The successive changes in the country’s top leadership (among both Conservatives and Labour) have not brought about the changes the public had hoped for.
This year, the economy is expected to grow by 1%, less than the previous year, when it reached 1.4%, while national debt, far from decreasing, tends to grow.
Within this framework, around 120 British millionaires, linked to the organization Patriotic UK Millionaires, sent a brief but forceful letter to the new prime minister expressing their desire to pay more taxes.
“As millionaires we have a clear message for you, our new Prime Minister: tax us. We are proud to pay and here to stay”.
However, despite the country’s pressing economic situation, the government’s initial reactions have been very meager and unenthusiastic, merely pointing out that this type of proposal should be considered within the framework of the budget.
Patriotic Millionaires
This is a network of millionaires from multiple sectors and backgrounds, operating not only in the United Kingdom but also in the United States and Canada.
Among its members and leadership team are people from various sectors, ranging from former members of the BlackRock investment fund to artistic producers—all of them, obviously, holders of very significant fortunes.
According to its website, those who make up this organization share a deep concern about the destabilizing degree of economic and political inequality in these countries. They declare themselves committed to a shared mission: to use the voice of wealth to build a fairer, more stable, and inclusive economy, and to accelerate the end of extreme wealth.
They state that they try to use the voice of millionaires to publicly advocate for a fair economy, combating extreme wealth and putting an end to the economic gap created by growing inequality.
They argue that the extreme wealth generated by the current economic system is destructive, inefficient, and is eroding trust in democracy.
To address the crisis of extreme wealth, they promote three fundamental lines of action:
- Wealth must pay its fair share and taxes must be progressive. Revenue collected from millionaires, billionaires, and large corporations should represent a significantly higher proportion of total tax revenue.
- Work must be fairly remunerated. Every person who contributes to the economy—both paid and unpaid—should be able to cover their basic needs.
- Wealth must not buy or corrupt politics. Trust in democracy depends on eliminating the undue influence of money. Every citizen, regardless of class, gender, ability, race, or ethnic origin, should enjoy political power equal to that enjoyed by millionaires.
The Letter to the Prime Minister
The Patriotic UK Millionaires, after stating that they know their country well and that its inhabitants deserve better conditions than those they have had in recent times, demand that Prime Minister Burnham tax them—something they would be very proud of.
They clarify that they are not asking for taxes on working people, but only on the richest.
In their brief argument, they express that wealth and power have been concentrated in a very small group for far too long, a benefit that has come at the expense of the country, its people, its democracy, and even the environment.
They inform him that this vision does not belong only to those who sign the letter, but that, according to them, it represents the majority of the country’s millionaires. “It’s not just us. We represent the majority of UK millionaires.”
According to the surveys they have conducted, at least 75% of the millionaires consulted support raising taxes on themselves, and the vast majority want to continue living in the United Kingdom and for their money to be used for investments that ultimately benefit the general population.
The revenue collected should be used to reduce inequality, invest in sustainable jobs, improve hospitals, schools, and social care, upgrade infrastructure, and facilitate access to financing for small businesses.
The Basis of the Proposal
The Patriotic Millionaires base their initiative on a series of arguments supported by data and studies from different sources, some of which come from British state institutions.
According to the data they handle, 63% of collected income is covered by ordinary workers, while only 4% comes from capital.
Although the dominant narrative claims that the United Kingdom has a high tax burden, in reality it is below other European countries. The effective tax rate for the top 10% of earners is 39%, while the poorest 10% pay 48%.
Over the past fifty years, the number of billionaires has skyrocketed; there are currently 156, compared to 29 in 2010.
They affirm that, internationally, urgent tax changes are required because countries lose USD 347.6 billion per year due to multinational corporations shifting their profits to tax havens. Additionally, they lose another USD 144.8 billion annually due to offshore tax evasion.
The loss of tax revenue particularly affects countries in the Global South and contributes to the vicious cycle of debt in which many countries are trapped.
It is also generating levels of inequality not seen since the height of Western imperialism in the early 20th century, and a situation in which, despite the global polycrisis, the richest 1% have captured more than half of all new global wealth.
These claims fully coincide with the studies carried out by the World Inequality Lab, a prestigious institution originating from the Paris School of Economics and the University of California, Berkeley, with contributions from dozens of renowned specialists. It published the third version of its global report, titled World Inequality Report 2026, in December 2025.
The report extensively documents that a small minority holds unprecedented financial power, while billions of people remain excluded from their most basic rights.
In all regions, the richest 10% controls more than half of total wealth, often leaving the poorest half with only a tiny fraction.
The report pays special attention to tax systems, concluding that, in this regard as well, those in the most powerful sectors are increasingly benefiting.
The ultra-rich evade taxation, it states. Effective income tax rates steadily increase for the majority of the population but fall dramatically for billionaires. These elites pay proportionally less than most households with much lower incomes.
As a consequence, this regressive pattern deprives states of resources for essential investments in education, health, and climate action, and undermines equity and social cohesion by reducing trust in the tax system.
Hence, these patriotic billionaires are not alone; they join other campaigns to tax the wealth of the world’s richest people that have gained real momentum in recent years.
On their website, they cite as examples some state initiatives, such as Brazil’s during its G20 presidency, or Spain’s proposal for a tax platform. In addition, the International Commission on Inequality, convened by the South African G20 presidency, highlighted the need to tax the super-rich. They also mention the referendum initiative in California or the debates on wealth tax in Denmark.
Change or Disappear
It is clear that these millionaires, beyond whatever humanism might guide their actions, are observing that the excessive concentration of wealth is putting at risk the social foundations upon which the capitalist system has developed in recent decades.
Therefore, in their letter to the prime minister, they say: “For a better Britain, this has to change; we need to embrace a new form of decentralizing wealth and power, starting with the richest, to reinvest in our greatest asset in every region: our people.”
In other words, if the current trend is not modified, the concentration of wealth and power will even leave out millionaires who do not belong to the small circle of the hyper-rich.
The ongoing intra-capitalist contest between billionaires who want to deepen the system (for which they need political, not just economic, control) on one side, and the self-proclaimed patriots (who also exist in other countries, though not necessarily organized) trying to return to earlier times with a different wealth distribution scheme on the other, tends to deepen.
Without a doubt, this polarization is a key factor in understanding the future of our societies.