Northern Ireland's Green Party has joined its Scottish, Welsh and English counterparts in calling for the introduction of a new Wealth Tax in the UK.

Green Party NI Leader, Senator Mal O'Hara, said that a Wealth Tax would only impact the richest 1% of people in the United Kingdom – or those with wealth of more than £3.4 million.

He continued: "In a cost-of-living crises, an environmental crisis and when public services are shattered after 14 years of Tory austerity, it is only fair to ask those with the broadest shoulders to pay a little bit more in tax.

"The UK is one of the wealthiest countries in the world, but also has one of the largest gaps between the wealthiest and the poorest. During the pandemic, the richest in society expanded their wealth, whilst the poor struggle to make ends meet. It is time for them to pay their fair share. The Wealth Tax and a proper windfall tax on big energy companies who have made record profit in recent years, will bring in a minimum of £75 Billion per annum. This money can be used to rebuild public services, build social homes and fund the climate transition to net zero. While Executive parties have repeatedly ruled out any form of revenue raising, this proposal will provide additional funding for Northern Ireland in the face of huge financial challenges ahead."

The Green Party NI leader concluded: "We know the Tories are toast. We know that Labour will win this election. We need a strong group of Green and Independent MPs who will dare Labour to be braver rather than Tory-lite. This policy is a perfect example of this. If we are serious about a Greener, Cleaner, Fairer UK then this is the type of bold policy proposal that is required."