Former England captain Gary Lineker has urged Chancellor John Healey to hike taxes on fellow millionaires in this month’s Budget. His call has triggered warnings that Labour risks driving out major taxpayers and leaving the country poorer if it launches new tax raids.
Mr Lineker pushed Mr Healey to crank up tax on the well-off in the October 28 Budget – but the Tories say anyone “desperate” to pay more tax can send a cheque to HMRC.
Lineker’s call for ‘better teamwork’
The ex-Match of the Day presenter, who was the BBC’s highest paid presenter in 2024-25 with earnings of more than £1.3million, said: “It’s time for better teamwork – for the super-rich to play their part and contribute properly to the society that helped create their wealth. I’m all for it, and so are the majority of millionaires and Brits. Too many people are struggling while a select few are richer than ever.”
Mr Lineker is a member of Patriotic Millionaires UK which, along with Tax Justice UK, is pushing for capital gains tax to be equalised with income tax. Campaigners also want a 2% annual wealth tax on assets over £10million.
Warnings over wealth tax impact
He said: “Inequality is draining the potential from our country. This Autumn Budget is an opportunity for our new Chancellor to address this burning issue and reset the UK’s economic system, which has served the wealthiest instead of the workers for far too long.”
But Emmanuel Igwe, of the Prosperity Institute, warned the proposals would “only make Britain poorer in a misguided attempt to make the poor richer”.
Silvia Andreoletti of the Adam Smith Institute warned that millionaires have fled the UK and more are “packing their bags” at the thought of a wealth tax.
Critics and supporters respond
She said: “Increasing wealth taxes drives away Britain’s biggest sources of income tax: this doesn’t reduce inequality, it just makes the country as a whole poorer. The shortfall will need to be filled by raising taxes on the average tax payer or by cutting government spending. When the wealthy leave, so do jobs, tax revenue, and investment. Instead of chasing them away, we should give them reasons to stay: replace the non-dom regime with a flat tax, cut capital gains tax, and abolish inheritance tax.”
Matt Vickers, deputy chairman of the Conservative party, said that “anyone desperate to pay more tax is free to send HMRC a cheque tomorrow”.
Faiza Shaheen of Tax Justice UK insisted: “There’s unbelievable wealth in this country, but it's held by a tiny minority who have had the system rigged in their favour for too long.”
A Treasury spokesperson said: “As has always been the case, decisions on tax are a matter for the Chancellor to set out at fiscal events, rather than routinely commenting on rumour, speculation or proposals.”
