Millionaires group urge Reeves to introduce wealth tax to ‘lift kids of out poverty’
Campaign group claims Reeves could generate £36bn annually through tax reforms
- A group of wealthy Britons, known as Patriotic Millionaires, is calling for increased taxes on the rich to help fund public services and lift children out of poverty.
- The group proposes that reforms to capital gains tax and the introduction of a new wealth tax could generate up to £36 billion annually.
- This appeal is being made ahead of Chancellor Rachel Reeves's upcoming Budget announcement in Westminster later this month.
- Patriotic Millionaires has launched a “Tax The Super-Rich” bus tour across the UK, highlighting the closure of numerous public facilities, including community centres and parks, since 2020.
- Campaigners like Oxfam Scotland support the call for better taxing extreme wealth, while the Treasury states its focus remains on cutting waiting lists, national debt and the cost of living.