Monmouthshire is often seen as an affluent county, with beautiful villages and high property prices. However, this masks significant internal inequality.I am pleased to see Abergavenny Town Council have a motion discussing a fairer tax system. This is in the context of a UK economy where wealth is not just unevenly distributed, but is becoming even more concentrated.

My Plaid Cymru colleague Councillor Gethin Jones has put forward the motion. He has pointed out that, in Abergavenny, some parts of the town rank among the most deprived in Wales in certain fields, such as in education and economic activity. One way of tackling inequality and creating a fairer society would be to fairly tax extreme wealth and bumper profits by massive companies. That is why, ahead of the UK budget on 26 November, Plaid Cymru is calling on Keir Starmer’s government to introduce a series of measures as part of the Autumn budget to get to grips with the cost-of-living crisis.

While the cost-of-living crisis began under the Tories, people do not feel better off under Labour.Plaid Cymru opposes the increase in Employers National Insurance Contributions, which affects public sector recruitment, small businesses, and care homes, and is partly passed on to workers and consumers. We urge a reversal in these tax rises and for the UK to introduce alternative revenue measures.The Chancellor Rachel Reeves could instead introduce a two per cent annual wealth tax on assets over £10 million - this could raise £24 billion that could fund public services and reduce wealth inequality.

This would be a big boost to public services in Wales, particularly if the Westminster government changed the way Wales is funded, so that we would be funded by need, and not just by how many people live in Wales. We are underfunded here in Wales compared with other parts of the UK, because the outdated 1970s Barnett formula. Last year, we were promised change under a Labour Westminster government, but the reality has been very different, and we’ve had more of the same. I believe it is time for those with the broadest shoulders to pay their fair share, so that communities can be given the security and support they need not only to get by, but to thrive.