Protesters Call for Higher Taxes on Banks
Campaigners gathered outside Parliament, dressed as bank CEOs, to urge Chancellor Rachel Reeves to introduce a higher tax on lenders.
The protest aimed to encourage the introduction of a windfall tax on banks' profits in the upcoming Autumn Budget. This comes after HSBC's £7.3bn net profit for Q3 brought the combined profit for HSBC, Barclays, Lloyds, and NatWest to £35.1bn for the year so far.
- A 38% windfall tax on the four largest UK banks could generate £14bn, according to analysis from campaign group Positive Money.
- Campaign groups Positive Money, Tax Justice UK, and War on Want attended the rally.
The chancellor just told us that those with the broadest shoulders should pay their fair share of tax.
Author's summary: Protesters demand higher taxes on banks.
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