The Chancellor is being slapped with a HUGE tax demand, ahead of the budget this Autumn.

London, 29 Sept 2025

Campaign group Taxpayers Against Poverty (TAP) is calling for reform of the UK’s outdated and unfair tax system, including the introduction of a wealth tax, to address long-term poverty and inequality. It is launching a cross-party campaign called “Tax Wealth Not Poverty”, targeting MPs, in the run-up to the budget on November 26th.

Tom Burgess, CEO of TAP said:

“Refocusing UK taxes on wealth rather than income isn’t about punishing wealth. It’s about modernising the way we raise revenue, so it is fair, efficient, and fit for the 21st century. We know from our work behind the scenes that there are many MPs who back the idea and just need some encouragement to speak out ahead of the budget.”

As part of its campaign, TAP is asking MPs to sign up to the following statement – its Tax Demand -ahead of the budget.

“I want to see tax reform that means the excessive wealth accumulated by the few, though created by us all, is reinvested in our country to reduce poverty and inequality and boost inclusive economic growth which improves opportunity for all.”

A growing number of MPs from all parties have already publicly shown their support for wealth taxes by signing Early Day Motion1725. This EDM is already backed by nearly 40 Labour, Lib Dem, SNP, Green and Independent MPs, with more expressing support every day.

Fourteen million people are living in poverty across the UK, despite being the world’s sixth largest economy. Rising costs and stagnant wages mean millions more are struggling to get by.

TAP is also encouraging supportive MPs and Members of the Lords to ask questions, seek parliamentary debates and lobby the Chancellor to introduce a wealth tax in November’s budget.

TAP’s call for reform of the UK’s tax system is overwhelmingly backed by public demand. Polling consistently shows that around three-quarters of the British public wouldsupportthe introduction of a 2% tax on wealth above £10 million. Overwhelmingly so do the people who would likely be paying the tax –millionaires.(source: YouGov and Patriotic Millionaires June 2025)

A wealth tax is an annual levy on an individual’s total assets, including things like property, investments, cash, antiques or art – above a certain threshold. Estimates suggest the introduction of an annual wealth tax of just 2% on assets over £10 million, would raise an estimated £24 billion each year.(source: Tax Justice UK, based on ONS & HMRC data)

TAP wants to see reform of the UK’s tax system, so that the emphasis shifts from taxing work to taxing wealth, as part of its Real Agenda platform for tackling the causes of poverty. 

With inequality at record levels, the UK economy flatlining and the Chancellor not wanting to break her promises to raise income tax, national insurance or VAT to balance the books, campaigners believe now is the time to act.

Tom Burgess, TAP CEO said:

“Wealth in Britain is undertaxed, while work is overtaxed. That imbalance drives poverty and inequality. TAP is calling on the government to modernise the tax system—tax wealth more, tax work less—and use the proceeds to invest in health, housing, education, and infrastructure. That’s how we reduce poverty and grow the economy inclusively. Now is the time for MPs who agree to speak up.”

Notes to Editors

For media inquiries, please contact:

Tom Burgess, CEO, Taxpayers Against PovertyEmail: taxpayersagainstpoverty@gmail.comWebsite: www.taxpayersagainstpoverty.org.uk   www.realagenda.org

About Taxpayers Against PovertyTaxpayers against Poverty is a UK-based independent advocacy group dedicated to tackling poverty, inequality, and social injustice by promoting economic policies that have a direct effect on reducing poverty and the unnecessary financial hardship. TAP seeks to influence national and local policy with well-researched and robust evidence of hardship and promote practical policy proposals using a direct approach to decision makers and other influencers.

TAP was founded by the late Rev Paul Nicolson and is led by Tom Burgess, author of From Here to Prosperity, a new political agenda for a sustainable economy and greater social justice, which proposes taxing wealth more and income less. TAP’s sister organisation and partner is Compassion in Politics which seeks to bring more honesty, respect and compassion into political life