Billionaire Wealth

That the Parliament recognises the reported significant increase in the collective wealth of billionaires in the UK in 2024; understands that, according to Oxfam, the growth amounted to £35 million per day, resulting in a total of £182 billion being held by 57 individuals; recognises reports that, in comparison, the number of individuals living in poverty has barely changed since 1990; believes that such a dangerous accumulation of concentrated wealth leads to greater power being in the hands of a few ultra-rich individuals; understands that such economic systems, as the UK currently has, can enable billionaires to unduly influence policy and decision-making; recognises that, according to research conducted by Oxfam, many of the super-rich owe part of their wealth to historical colonialism and the exploitation of poorer people and countries, and considers that, in order to improve equality and reduce poverty, governments should prioritise economic and taxation policies that decrease inequality and encourages governments to take action on reducing relative poverty both in this country and around the world.