Cost of living crisis: Stop the Squeeze calls for wealthiest to ‘pay proper share’ of tax

Coalition of 40-plus charities and groups launches amid fears of spending cuts to plug public finances

Pressure is building on the leaders of Britain's two biggest political parties to support higher taxes on wealth amid growing fears over the impact that a renewed austerity drive would have amid the cost of living crisis.

In an intervention which comes as the new prime minister, Rishi Sunak, considers options for filling a 35bn black hole in the public finances, a new coalition of 40 charities and campaign groups - including Oxfam, Save the Children and Christians Against Poverty - said Britain's tax system was broken and those who paid the most should pay their proper share".