Patriotic Millionaires UK project calls for wealth tax ahead of fiscal update

LONDON – In a bold display aimed at influencing the upcoming fiscal announcement, the group Patriotic Millionaires UK, which includes former business consultant Phil White among its members, illuminated the facades of financial institutions with a message advocating for increased taxes on wealth to fund public services. Today’s projection comes just a day before a significant fiscal statement is expected.

The group has put forth a proposal for a tax measure that could generate an additional £423 million in national investment revenue weekly by focusing on individuals with substantial assets. This initiative is presented as an alternative to what they consider harmful economic reform policies, such as reducing inheritance taxes.

Supporters of the Patriotic Millionaires UK have highlighted data from surveys indicating broad public and millionaire support for wealth taxes. They argue that such measures would help relieve the financial burdens faced by working people by ensuring fair taxation of the wealthy. The group’s actions today aim to bring attention to these issues and influence policy decisions in the lead-up to tomorrow’s anticipated fiscal update.

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