Millionaires group urge Reeves to introduce wealth tax to ‘lift kids of out poverty’
A group of wealthy Britons are calling for increased taxes on the wealthy, claiming such measures could “lift children out of poverty” and contribute significantly to rebuilding public services.
Campaign group Patriotic Millionaires believes Chancellor Rachel Reeves could raise up to £36bn a year through reforms to capital gains tax and the introduction of a new wealth tax.
The objection comes ahead of Ms Reeves’ Budget announcement in Westminster later this month.
Group member Phil White said: “It’s time for the richest like us to pay a fairer share, so we can help lift these children out of poverty and start rebuilding our public services and communities across the UK.”
Speaking as Patriot Millionaires launched a tour to take their message to key cities across the UK, Mr White added: “We all want to live in a society where everyone has the chance of a good life – but that is not the case at the moment.
“The gap between the super-rich and everyone else is widening by the day.
“While nearly one in five children in Scotland live in poverty, the country’s five richest families have a combined wealth of £19.3bn – more than a quarter of the population.”
Next week the group’s special ‘Tax The Super-Rich’ bus will travel to a number of cities including Newcastle, Manchester, Liverpool, Birmingham and London.
With the tour kicking off in Edinburgh on Wednesday, Patriotic Millionaires said figures released under freedom of information showed that at least 206 public facilities in Scotland had either closed or been handed over to community groups in the last five years.
Stating that the figure includes 53 community centers and 27 parks, the group stated that a local public service or facility has been closed every three days since 2020, including children’s centres, swimming pools, libraries and youth centers across the UK.
Jamie Livingstone, chief executive of Oxfam Scotland, speaking on behalf of campaign participants Tax Justice Scotland, said: “This data paints a deeply worrying picture that will be familiar to communities across Scotland.
“People are watching their local amenities disappear as wider public services erode, but they also know that the wealth of a privileged few in the UK continues to grow.
“It’s encouraging to hear millionaires themselves say ‘enough is enough’ because they know our tax system isn’t fair.”
Mr Livingstone added: “Better taxation of extreme wealth is responsible, not radical, it is long overdue and the UK Chancellor must act and do so.”
A Treasury spokesman said: “The Chancellor has determined the content of the Budget, recognizing the global and long-term economic challenges.
“Shorting waiting lists, reducing the national debt and lowering the cost of living will continue to build strong foundations for securing the future of British people.”
