Press release: leading organisations call for wealth taxes at the Budget

Labour Government told ‘Tax The Super Rich’ to save public services and planet

• National organisations including 38 Degrees, Greenpeace UK, Oxfam GB, Patriotic Millionaires UK and Tax Justice UK demand government reforms the tax system to raise tens of £bns per year

• Over half a million petition signatures were delivered to the Chancellor urging her to tax the super rich, with 75% of the public in favour of a wealth tax.

• Photos from the morning available here from 10:45am. Spokespeople available for further comment or interview.

19th November, London – Campaigners, millionaires, and public sector workers have today handed in over 575,000 petition signatures to the Treasury calling on the government to tax the super rich. This comes one week ahead of the Government’s Autumn Budget. The organisations involved are demanding the government fix public services, tackle inequality and invest in tackling climate change and restoring nature. 

Patriotic Millionaires, including Economist and YouTuber Gary Stevenson, alongside a caricature of Chancellor Rachel Reeves handed a giant cheque of “tens of billions” from the super rich to public sector workers from the NHS and Fire & Rescue Service.

Laura Ho, NHS Midwife said: “It’s really hard going into work each day watching our NHS bursting at the seams, with constant cut backs and burnt out staff, knowing that there are people sitting on mega-yachts with hundreds of empty properties and billions in the bank. That doesn’t seem right to me. When did we decide that some people can have extreme luxury while the majority struggle?”

Organisations including Tax Justice UK, 38 Degrees and Oxfam GB, along with climate groups Greenpeace, 350, and Green New Deal Rising, and the Fire Brigades Union are advocating the Government reform the tax system. They say that doing so can raise tens of billions every year by implementing a number of changes that tax extreme wealth. The organisations argue that by taxing what they term ‘the super-rich’, the government will have revenue to invest in public services like – hospitals, schools, housing, childcare and infrastructure – as well as to act on the climate crisis at home and abroad.

Steve Wright, Fire Brigades Union general secretary said: “The fire and rescue service is on its knees after fifteen years of austerity. Meanwhile, firefighters are being pushed beyond limits responding to increasing floods and wildfires across the UK. We desperately need more resources to keep communities safe from the impacts of the climate crisis. The money is there: the government must tax the super-rich to fund vital services like fire and rescue.”

Proposals to tax the super rich include introducing a 2% wealth tax on wealth over £10 million, which would raise £24 billion a year and apply to just 0.04% of the population. Reforming capital gains tax to tax income from wealth the same as income from work to raise over £11 billion a year, and applying national insurance to investment income to raise £12 billion a year.

Matthew McGregor, CEO at 38 Degrees, said: “The message to the Chancellor from hundreds of thousands of members of the public is crystal clear: Make those with the broadest shoulders pay their fair share, and tax the ultra-rich to save our public services. It is outrageous that whilst so many people are struggling to get by, a tiny number are sitting on billions, paying less tax on their wealth than ordinary people pay on their wages. Fairness isn’t a luxury; it’s a foundation. The government must listen to the people, fix this rigged system, and use that revenue to mend our NHS, fund our schools, and help all of us with the cost of living a little.”

Ending fossil fuel subsidies for big oil and gas companies, as well as increasing taxes on private jets, would also deliver over £3 billion to the Treasury.

Hannah Martin, Co-Director of youth climate campaign group Green New Deal Rising, said: “Young people today face a raging climate crisis, rising unemployment and extortionate rent and bill costs. All they’ve known is crisis, underinvestment and decline. At the same time, the wealth of the super-rich has exploded, with billionaires adding £35 million to their wealth every day last year alone. Instead of asking these ultra-rich multi-millionaires and billionaires to pay their fair share, our current tax system gives them a free ride, massively undertaxing wealth compared to income. This Budget, it’s time to change that. It’s time for Reeves to make the super-rich PAY UP with fair wealth taxes to fund investment in climate action, affordable homes and good, green jobs.”