Cost of living, inequality and climate and nature

That this House believes that the cost of living, inequality and climate and nature crises are all connected; further believes that tackling them together can improve people’s lives now and make the future safer, fairer and greener for everyone; is alarmed by growing levels of wealth inequality in the UK, with the top one per cent owning the same total amount in household wealth as the bottom 50 per cent, and by warnings that wealth inequality in the UK could be a major driver of societal collapse within the next decade; is concerned by warnings from the Bank of England that higher inflation due to the Middle East conflict will further push up the price of fuel, food and energy; is further alarmed that the UK ranks in the bottom 10 per cent of countries globally on the Biodiversity Intactness Index and that the Joint Intelligence Committee warns that climate breakdown poses a severe national security threat; and calls on the Government to bring forward measures to properly tax fossil fuel companies and the extreme wealth of billionaires and multimillionaires so it can invest in bold, ambitious and hopeful action to help people with the cost of living and tackle its root causes including sky-high rents and housing costs, build more social and council homes, repair public services, and urgently address the climate and nature emergencies.