Gary Lineker has joined more than 100 British-based millionaires in calling on Andy Burnham to tax their wealth more, telling the new prime minister: “We can afford it.” For the country’s business owners, the detail behind the plea matters as much as the gesture.

On Thursday, a group of over 100 UK-based millionaires, including Lineker, screenwriter Richard Curtis, novelist Val McDermid and ex-City trader Gary Stevenson, signed a letter urging Mr Burnham to tax their wealth. It was organised by campaign group Patriotic Millionaires UK.

“We want you to tax us. We can afford it,” the letter says. “We’re not talking about higher taxes on those who get up and go to work for their income every day, but on the very richest whose income is derived from the wealth they hold.”

The signatories describe themselves as a “patriotic bunch” who “love this country and we want it to succeed”. Lineker added: “Paying your fair share is a basic British value, but so many ordinary people are already paying more than they can afford. Our richest people can do more and most want to. To live up to our national values our new government must raise taxes on extreme levels of wealth for a fairer, better, more hopeful Britain.”

The numbers are where owners of ambitious firms should pay attention. Patriotic Millionaires UK has called on the government to place a 2 per cent tax on wealth over £10m, which it says could raise £24bn a year. It also argues that reforms to capital gains tax, including equalising the rate with income tax, could raise a further £12bn.

That combination would land squarely on founders and family business owners, many of whom are already navigating pared-back reliefs on the sale of a company. A levy pegged to assets rather than income also raises the perennial question of illiquid wealth: a stake in a private business is not a bank balance you can dip into to settle a tax bill.

The campaign draws on fresh academic work. Economists Gabriel Zucman and Ben Tippet estimate that a 2 per cent charge on households with more than £100m in assets would raise £10bn a year and affect fewer than 1,000 of the wealthiest households in the UK. The tax would “raise meaningful revenues and dampen runaway inequality”, they said.

Mr Burnham has declined to rule out a wealth tax, telling Lineker earlier this month that his government may “ask for a little more”. In a separate interview he suggested there is “some room” in the Labour manifesto for “movement on tax”.

The plea lands amid a row over how the new prime minister will fund his cost-of-living blitz. Since taking office on Monday, Mr Burnham has capped most bus fares in England at £2 and promised an £850m tax cut on electricity bills. Darren Jones, an ally of Sir Keir Starmer who lost his cabinet post this week, claimed the energy bills cut was unfunded. The government says it will be paid for in part by scrapping Sir Keir’s national digital ID scheme, though the estimated £600m a year in savings falls short of the annual cost.

For the SME community, already wary of what a Burnham premiership means, that funding gap is the nub of the matter. Conservative shadow chancellor Sir Mel Stride told BBC Breakfast: “And in the context of a very constrained economy at the moment, in terms of debt, debt servicing costs, and so on, and a very fragile fiscal situation, you cannot be a government that goes out there and makes lots of spending commitments without being able to explain exactly how those commitments are going to be funded.”

The signatories insist the answer sits with the very rich, not the high street. Julia Davies, a member of Patriotic Millionaires UK, said the moment could “reduce the shocking levels of wealth inequality which intensifies the cost of living crisis, and raise much-needed revenue for our public services”. The idea that wealth taxes could generate meaningful sums has gained traction. Whether that revenue helps small businesses or simply reshapes the incentives for the people who back them is the question owners will be watching.

Signatories in full

Alexander Alanine · Antonio Amaral · Susan Angoy · Cal Bailey · David Barker · Mike Barnes · Brian Basham · Sasha Bates · Gareth Bayliss · Robin Beal · Derek Bennett · Michael Berners-Lee · Andy Bilson · Jonathan Bloch · Nacim Bougheda · Andrew Bowles · Chris Brown · David Burall · Fiona Campbell · Mark Campbell · Tim Carey · William Carman · John Cossins · Richard Curtis (screenwriter and film director) · Julia Davies (investor, Patriotic Millionaires UK) · Juan Jose del Rio · Nicholas Easter · Stephen Einhorn · Nicola Elliott · Brian Eno (musician and producer) · David Farrell · Chris Frith · Dawn Gerhold · Edward Gildea · James Golding · Stephen Gosling CBE · Ian Gregg (former chairman of Greggs) · Lauren Gupta · Richard Hagan · Vivien Hallebard · Dominic Hamon · David Hands · William Hartree · Carolyn Hayman · Tom Hearn · David Heffernan · Peter Hill · Graham Hobson · Becky Holmes · Patrick Hort · Diane Isenberg · Kristina Johansson · Patricia Johnstone · Susie Jolly · Jenny Kagan · Sunil Kapur · Hussayn Kassai · Colleen Keck · Stephen Kinsella · Ramana Kumar · Jean Latenser · Barry Lea · Nick Levey · Gary Lineker (broadcaster and former England striker) · Bruce Lloyd · Harry Longman · Sam Lupton · Fred Macmillan · Louisa Mann · Doro Marden · Nick Marple · Sophie Marple · Madelyn Martinez · Samantha Mayaveram · Val McDermid (novelist) · Gemma McGough-Colin · Ben Medlock · Tim Nottidge · Lesley Omara · Charlie Orton · Roy Phillips · Nick Powell · David Pugh · Nick Razey · David Richards · Andrew Richards · Mark Robinson · Sarah Rossi · Georgios Samaras · David Seaward · Mark Seow · Susan Seymour · Anika Sharma · Lawrence Shaw · Alan Sherwell · Paul Sherwood · Akshay Singal · Adam Singer · Geetie Singh-Watson · Guy Singh-Watson · Alastair Singleton · Alan Smith · Nathan Spencer · Heather Stevens · Gary Stevenson (economist and former City trader) · John Stickley · Tim Stumpff · Peter Sundgren · Ben Tibbits · Rebecca Tinsley · Jennifer Tomkins · Willem van Hoorn · Matthew Varnham · Edward Vickery · Suzanne Wise · Phil White · Leticia White · Vicki Wilkinson

Paul Jones

Harvard alumni and former New York Times journalist. Editor of Business Matters for over 15 years, the UKs largest business magazine. I am also head of Capital Business Media’s automotive division working for clients such as Red Bull Racing, Honda, Aston Martin and Infiniti.

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Pubs, clubs and live music venues in England will be given a 20% cut to business rates from April, which the government estimates will save firms around £1,100 next year.

In his third policy announcement since becoming prime minister, Andy Burnham said: “For too long, governments have stood by while cherished venues have disappeared from our local high streets.”

The cut will cost £100m and will be funded by a review of tax relief on firms such as vape shops which “do not make a positive contribution to local communities”, the government said.

Hospitality bosses welcomed the support, but some pub owners said the package would not go far enough to offset the impact of cost increases elsewhere.

The 20% business rates discount will not apply to the “very largest” live music venues. Details about which businesses are eligible will be announced at Chancellor John Healey’s first Budget in the autumn.

The cut is expected to benefit almost 32,000 venues, the government said.

Iain Hoskins, who owns Ma Pub Group in Liverpool, told the BBC the relief would help “chip away” at rising costs but questioned how many venues would benefit.

It could be “very meaningful”, he said, but “as always, the devil is in the detail”.

His pubs have previously missed out on government business rates support, and “the increases were so huge last year that now we’re sort of chipping away at some of those increases”.

Under previous chancellor Rachel Reeves, the government said last year it would scale back business rate discounts that had been in force since the pandemic and announced that there would be no discount at all from April this year.

That, combined with big upward adjustments to rateable values of pub premises, left landlords with the prospect of much higher rates bills.

Following criticism from the hospitality industry, the government cut business rates for pubs and music venues by 15% earlier in 2026.

The 20% discount will apply on top of the existing support.

Commenting on the cut which comes into effect next year, Steve Perez, founder of soft drinks company Global Brands and an owner of two hotels, said the announcement is “welcome… but this won’t make any material difference to any pub”.

UK Hospitality’s chief executive, Allen Simpson, said Burham’s plans are “a good start” which he said “suggests that his affection for hospitality has survived the trip down the M1”.

But he added that it is “not for everybody in hospitality”.

The change to business rates for some hospitality firms is the latest move in what Burnham hopes will provide “breathing space” for people and businesses.

On Tuesday, the government announced a cut of 5% VAT on electricity bills followed by capping bus fares at £2 in England outside London.

As well as reviewing tax relief on firms such as vape shops in order to fund the rate cut, the government also said it will “crack down” on businesses selling through online marketplaces which “do not comply with their tax obligations”.

The Night Time Industries Association’s chief executive, Michael Kill, said the tax break could provide “meaningful relief to businesses facing sustained cost pressures”.

But he said the sector is waiting for more details while questions remain about the exclusion of the largest live music venues.

The Federation of Small Businesses (FSB) said Thursday’s announcement must be “a downpayment on action that reaches across the small business community”.

FSB policy chief Tina McKenzie, said the plans were encouraging and fix the damage caused by past business rates decisions which are “holding back small business growth and jobs in every postcode”.

A charity distributing food to the most needy said it had been “devastated” after thieves smashed their way into its warehouse, leaving tonnes of supplies ruined.

They broke into the Teesside base of FareShare North East on Tuesday and cut the power to the charity’s walk-in freezer and chiller units, meaning perishables like milk and meat had to be thrown out.

The charity said it lost 16 tonnes of food – the equivalent of 7,000 meals.

Middlesbrough hub manager Natasha Flanagan said it was “heartbreaking”, adding: “We’ve got a really great team of volunteers and staff and we try our best every day to get food out to people that need it.”

FareShare North East redistributes food donated by supermarkets from its warehouses in Newcastle and Middlesbrough to more than 200 community groups, including food banks.

The charity has been in Middlesbrough since 2023 and moved to its new base on Skippers Lane about four months ago.

Flanagan uncovered the damage when she arrived for work.

She said: “Lockers were ransacked, the staff drawers in the main warehouse were ransacked, and then I’ve seen the chiller doors were left open and the freezer door which has caused significant damage to food.

“Honestly it’s heartbreaking and we do really good things here.”

Christopher O’Reilly Palm Beach has spent much of his career navigating some of the Caribbean’s most beautiful waters. Raised in Greenwich, Connecticut, he grew up sailing on Long Island Sound and developed an early appreciation for life on the water. What began as a childhood passion eventually became a career operating motor yachts throughout South Florida and the Bahamas.

After attending Brunswick School and Fairfield University, O’Reilly began working in the Marine Department at Riverside Yacht Club. He later earned his Merchant Mariner Credential and entered the yachting industry full-time, advancing from mate to captain aboard motor yachts up to 126 feet in length.

Much of his career has centered on captaining yachts throughout the Bahamas. Operating from Nassau, he guided guests to some of the country’s most sought-after destinations, including Harbour Island, known locally as Briland, Spanish Wells, Rose Island, and the Exumas.

Trips often included snorkeling at Thunderball Grotto, exploring the Exuma Cays Land and Sea Park, visiting Rocky Dundas Cave, stopping at Danger Reef, and taking guests to Big Major Cay to see the famous swimming pigs.

In 2019, O’Reilly was featured by Select Yachts after being named captain of the motor yacht Lady Sharon Gale. The recognition reflected years of experience managing vessels, planning voyages, and creating memorable experiences for guests throughout the Bahamas.

Today, he continues to share his knowledge of Bahamas yachting, navigation, and destination planning while remaining closely connected to the boating lifestyle he has built his career around.

What first inspired you to work on the water?

Growing up in Greenwich, Connecticut, I spent a lot of time sailing on Long Island Sound. I enjoyed hockey growing up, but the water always pulled me in. I liked the freedom of it and the fact that every day felt different.

Once I started spending time around marinas and yacht crews, I realized there was an entire industry built around boating and travel. That opened my eyes to what was possible.

What attracted you to captaining yachts in the Bahamas?

The Bahamas offers something different every day. You can leave Nassau in the morning and be anchored off a quiet cay a few hours later. Every island has its own character.

I enjoyed helping guests experience places they might never have discovered on their own. A lot of people arrive with a few destinations in mind, but by the end of the trip, they have new favorites.

What were some of the most popular routes you captained?

Harbour Island and Spanish Wells were always requested. Guests loved the atmosphere and the boating culture around those areas.

The Exumas were another favorite because of the variety. One day, we might be snorkeling at Thunderball Grotto. The next day, we could explore the Exuma Cays Land and Sea Park or head to Big Major Cay.

Rose Island was popular for shorter day trips from Nassau. Guests could spend the day swimming, relaxing on the beach, and enjoying jet skis without committing to a longer voyage.

What makes the Exumas so special?

The diversity.

You have remote anchorages, incredible snorkeling, marine parks, sandbars, caves, and wildlife all within a relatively small area. The water itself is unlike almost anywhere else.

I remember guests arriving with high expectations because they had seen photos online. Almost every time, they would say the water looked even better in person.

What destination surprised guests the most?

Rocky Dundas Cave.

Many guests had never heard of it before arriving. Once they swam inside and saw the limestone formations, it became one of the most talked-about parts of the trip.

Thunderball Grotto was another location that always impressed people. The combination of the cave structure and marine life creates a very unique experience.

What do people misunderstand about yacht travel in the Bahamas?

Many people think it is all about luxury.

What makes it memorable is access. A yacht allows you to experience places that are difficult to reach any other way. You can anchor near an empty beach, explore a remote cay, or spend the afternoon in an area with very few people around.

That flexibility changes the entire experience.

What happens behind the scenes to make those trips successful?

Planning.

You are constantly monitoring weather, tides, navigation routes, fuel consumption, and timing. Guests see the destinations. The crew is thinking about everything that needs to happen to get there safely and efficiently.

A smooth trip usually reflects extensive preparation before the yacht ever leaves the dock.

What skills matter most for a yacht captain?

Situational awareness is a big one.

You need to understand conditions, anticipate changes, and make good decisions before problems develop.

Communication is also important. Guests want to enjoy themselves. The crew needs to stay coordinated. Clear communication helps everything run smoothly.

What advice would you give someone interested in a career in yachting?

Spend time around the industry.

Visit marinas. Talk to captains and crew members. Learn how boats operate. The best education often comes from being around experienced people and paying attention.

Yachting offers opportunities to travel, learn, and build practical skills. It rewards people who are willing to work hard and stay adaptable.

What does success mean to you today?

Creating great experiences for people and doing things right.

Some of the most rewarding moments came when guests finished a trip and immediately started talking about when they wanted to come back.

When people leave with memories they will talk about for years, that feels like success.