A wealth tax as an alternative to National Insurance increases

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.