A group of MPs is calling for a tax on social media companies’ profits, saying the firms are operating in “an online wild west”.

Its report, which follows a year-long inquiry into the health impact of social media, says the industry should do more to protect children and young people online.

The government is due to publish its own proposals within weeks.

It says all kinds of steps are being explored to increase online safety.

The All Party Parliamentary Group (APPG) on Social Media and Young People’s Mental Health and Wellbeing invited experts, charities, parents and young people to give evidence to its inquiry.

It found that although social media had many positive effects, such as acting as a supportive community and a place of learning, it could also expose

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