It's not just workers calling for a wealth tax — millionaires are too!
by Alyssa Pearce | Amplify Stroud
November 2025
The Patriotic Millionaires UK (PM UK) campaign bus stopped outside the offices of Ecotricity on the 17th November to talk to people about their calls for a wealth tax. Robin Layfield lead an interview with local Patriotic Millionaire and founder of Ecotricity, Dale Vince.
“PM UK are a group of 85 British Millionaires who are advocating for the government to increase the contribution that the super rich pay in taxes. This would be in the form of a 2% wealth tax on any assets above £10 million, meaning that someone with a net worth of £20 million would have to pay £100,000 a year, which according to Dale Vince would "affect 200,000 people and raise £24 billion a year, that's a very small number of people and a vast sum of money.”
A wealth tax isn't the only suggestion that is supported by Patriotic Millionaires UK, they have worked together with Tax Justice UK to propose a list of "Ten tax reforms and closed loopholes to raise over £60 billion in a single year" which includes mandating that all multinational companies fully disclose how much profit they make both in the UK and abroad to prevent profit shifting to tax havens which could raise another £15 billion in tax.
"Our system enriches a few people and impoverishes millions and it keeps it that way"
The campaign has travelled all over the country starting in Scotland and ending in Westminster to put pressure on the Government to end extreme wealth and close the gap on wealth inequality.
“People who have made money in our economy have made money because we have education, we have healthcare, we have transport.” So why is it not clear to those who have profited from having these public services that they should be paying back into it? Mr Vince says that it is clear to them - “Polling done by PM UK shows that the vast majority of millionaires agree [with calls for a wealth tax], they're happy to pay a little bit more tax because it really is just a little bit more, and it can make such a big difference.”
Part of the argument against a wealth tax is that the super rich might leave the country in search of lower tax rates but as the Patriotic Millionaires campaign bus says they are proud of their country and love living here so why would a small contribution to the welfare of everyone be the tipping point that makes them finally decide to emigrate.
A wealth tax is also backed by plenty of leading economists who have written an open letter stating that “Keir Starmer and Rachel Reeves can build a tax system fit for the 21st century – that promotes fairness, first-class public services, and good living standards for everyone. We cannot allow extreme wealth inequality to deepen while millions of people are consigned to struggle for basic quality of life.”
The Autumn budget 2025 hasn't included a wealth tax, however after calls from people and organisations all over the country for years, we have seen a removal of the two child benefit cap which is estimated by the government to mean that 450,000 less children will be living in poverty by 2029-30.
The Chancellor will also introduce a 'mansion tax' in which properties valued at over £2 million will be charged a surcharge of at least £2,500 - this won't come into effect until 2028 and will raise around £400 million a year, a little way off of the £24 billion that could be raised by a 2% wealth tax, but is it reasonable to still hold for future budgets? Dale Vince gives this message to the Rachel Reeves. “Be bold, be brave. The people are with you, the millionaires are with you, just do it.”
Alyssa Pearce is the Deputy Editor for Amplify Stroud
Amplify Stroud is supported by Dialect rural writers collective. Dialect offers mentorship, encouragement and self-study courses as well as publishing.
You can find out more at https://www.dialect.org.uk/
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