On Monday 17 March, activists from Climate Resistance disrupted a Kemi Badenoch keynote speech at the Margaret Thatcher Conference 2025: Remaking Conservatism, hosted by the Centre for Policy Studies at the Guildhall:
As Badenoch spoke, two protestors rose from the audience, unfurling banners that read “Abolish billionaires” and “Wealth tax now”:
“Shame on you for celebrating Margaret Thatcher!” one of the protesters called out. “You want to talk about the future of conservatism? There will be no future!” another shouted:
”This is just like my election hustings,” Badenoch complained, not realising how close to the truth she was. Her hustings in July 2024 had also been disrupted by Climate Resistance.
Security then dragged the protesters out of the hall:
Badenoch won’t abolish billionaires – but she should
The disruption was part of the new Abolish Billionaires campaign, demanding a 100% wealth tax on assets over £10 million to fund climate action. Campaigners highlighted the devastating impact of neoliberal policies — deregulation, privatisation, and austerity — championed by Thatcher and the current Tory Party. Security dragged the activists out of the hall.
The richest 1% are responsible for more emissions than two thirds of the global population. According to surveys by YouGov, over half of Brits believe billionaires should not exist and three quarters support a wealth tax.
This year marks the 100th anniversary of Margaret Thatcher’s birth and 50 years since her first meeting with Ronald Reagan — a symbolic moment for the rise of neoliberalism. The Conservative Party has been branded the party of billionaires due to its cosy relationship with super-rich funders; among others, Tories received £250,000 from Lord Spencer and £50.000 from a firm co-owned by the convicted billionaire Prakash Hinduja before the last general election.
Following Elon Musk’s attempts to intervene in politics across the world, including the UK government, and the rise of the “billionaire broligarchy” in the US, the influence of the super-rich on policy has increasingly become a subject of scrutiny.
Sam Simons, spokesperson for Climate Resistance, said
The future of conservatism is the same as the past: exploitation and climate breakdown for the many, obscene wealth for the few. For 50 years, neoliberalism has robbed working people, deepened inequality, and accelerated the climate crisis. Thatcher’s legacy isn’t something to celebrate. Today’s Conservatives are clinging to an ideology designed to stuff the pockets of the super-rich while the planet burns and people struggle to pay their bills. It’s time to tax billionaires out of existence and use the resources to fund social services and climate action.
Featured image and videos via Climate Resistance
