Voices: ‘No loopholes’: Readers demand watertight wealth tax after millionaires’ letter to Andy Burnham

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Voices: ‘No loopholes’: Readers demand watertight wealth tax after millionaires’ letter to Andy Burnham

The Independent · 4 hours ago

More than 100 British-based millionaires, led by former footballer Gary Lineker, have written to new prime minister Andy Burnham urging him to introduce a wealth tax on the super-rich, arguing "we can afford it." The Independent polled its readers on the proposal and found strong support, with almost four in five backing a wealth tax on Britain's wealthiest people, though that support came with significant caveats about how such a policy should be designed and enforced.

Readers commenting on the article repeatedly stressed that any wealth tax must close existing loopholes to be effective, calling for measures such as exit taxes on those who leave the UK to avoid paying, tighter reporting requirements on all forms of wealth, and stricter oversight of tax advisers and accountants who help clients minimise their bills. Some cited Italy's modest wealth tax on luxury items such as yachts and second homes as evidence that such schemes can work if properly targeted, with one suggestion focusing any levy on the roughly 20,000 people with wealth exceeding £10 million. Others were more sceptical, pointing out that millionaires could already donate money to HMRC voluntarily if they wished, and questioning whether government would spend any additional revenue wisely.

  • Lineker-led millionaires urged Burnham to tax the wealthy more heavily
  • Nearly 80% of Independent readers polled backed a wealth tax
  • Readers demanded loophole-free rules, exit taxes and adviser oversight first

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