A tax on wealth, not an increase in National Insurance contributions

Many constituents have written in to me about a tax on wealth. It’s good to hear from people, and particularly on the issue of a tax on wealth rather than an increase in National Insurance.

Working people should not have to bear the burden of paying for the pandemic, particularly since so many of the most wealthy have done very well out of it.

Taxing working people will only benefit the owners and investors, ie benefit capital rather than the people who do the work to create the wealth in the first place.

The sad thing is that the real economy, that of ordinary people and the businesses that employ and serve them, would be more prosperous if the needs of people were treated as a priority.

I support Richard Burgon ‘s amendment to scrap the Tory National Insurance hikes.  Instead, there should be a Wealth Tax on the super-rich, that is those with assets over £5m.  This sum could fund much-needed investment in our social services, including a National Care Service for all.

I have signed EDM 893 (reprinted here) and will continue to do all I can to create a fairer taxation system for all:

(Richard Burgon) That this House calls on the Government to abandon its regressive plans for a 1.25 percentage point increase in National Insurance contributions; believes this will add to the cost of living crisis people are already experiencing as a result of big increases in energy bills, high inflation, real-term wage cuts and cuts to universal credit; and calls on the Government to replace the proposed National Insurance increase with taxes on the wealth of the richest one per cent.