We believe this change could allow ordinary people to pay off their debt, save and invest more securely, spend more on holidays, retail, home improvements and services, and support local businesses and jobs.

By having more disposable income, people could reinvest it into the economy, and the benefits could ripple outward. This proposal should be funded by those who can afford it. It could provide financial benefits that are brave and potentially revolutionary. Money would go back into the economy and could genuinely reward working. If the goal is to truly redistribute wealth and close the poverty gap, then we believe that such ideas should be considered.