A new report suggests that most Britons believe high earners already pay a fair share of tax, undermining calls from Prime Minister Andy Burnham for further levies on the wealthy. Research from the Adam Smith Institute found that almost 70 per cent of the public think the top 1 per cent already pay an appropriate amount, while around two-thirds recognised that taxes on ordinary workers would likely rise if wealthy individuals emigrated in response to higher taxes. The findings come as Burnham faces pressure over a possible rise in capital gains tax, despite warnings from allies that such a move could harm economic growth.

The TaxPayers' Alliance notes that the top 1 per cent earn 13.3 per cent of UK income but contribute 28.2 per cent of all tax. Separately, ONS data shows wealthier households are now facing higher inflation than poorer ones for the first time since March last year, and the number of UK millionaires fell 7 per cent year-on-year to 442,000. Economist Lord O'Neill, a Burnham ally, cautioned that raising capital gains tax could be "stupid" and drive entrepreneurs abroad, while Conservative Sir Mel Stride said public patience with Labour's tax rises was "wearing thin".