Andy Burnham has been urged by academics to introduce a wealth tax on Britain's super-rich households as part of his plans to make the tax system fairer and fund better public services. A study by economists Gabriel Zucman and Ben Tippet suggests a 2% minimum charge on households worth more than £100m could raise £10bn a year, affecting fewer than 1,000 of the UK's wealthiest families. The proposal comes as Burnham, the new prime minister, prepares to set out his tax and spending plans, having previously said he wants to make taxation fairer without demonising any particular group.

Under the plan, HMRC would calculate the total accumulated wealth of rich families, including property, businesses, pensions, art and land, to prevent avoidance through holding companies or trusts. A rule would also require wealthy families to keep paying the tax for at least ten years after leaving the UK, to stop them dodging it by emigrating. The academics argue the targeted nature of the tax means common criticisms of wealth taxes, such as valuation difficulties and impacts on entrepreneurs, would not apply, and they note that similar ideas are gaining traction internationally, including in New York under mayor Zohran Mamdani.