10,000 children are being plunged into poverty. 2.5 million pensioners are having to choose between heating and eating this winter. [1] Labour claim these are the ‘tough choices’ they have to make, but why are the poorest and most vulnerable of us taking the hit, not the big banks?

It doesn’t have to be this way, John. Rachel Reeves says scrapping winter fuel payments will save £1.4 billion - but a windfall tax on bank profits could bring in more than £14 billion - literally ten times that amount. [2] It’s time for this new government to show whose side they’re really on: us or the banks. 

Please John, sign the petition in 30 seconds now.

After 15 years of austerity, our schools and hospitals are literally crumbling around us. Our water and transport infrastructure is desperately crying out for funding. All the while, banks are making billions in record-breaking profits. [3] Now more than ever we need big, bold investment, and a clear sign about who our economy is for: people not profit. 

The Chancellor has said this Budget will not be a return to austerity and will deliver real change. [4] Taxing billions in unearned profits from banks - made off the back of years of soaring interest rates, which have caused our mortgage, rent, and debt payments to spiral - would be the perfect way to start.

Add your name to tell Rachel Reeves to make good on her promise in her first Budget by hitting the button below, John. It takes less than 60 seconds.

Thanks so much for your support,

Hannah, Positive Money

Notes:

[1] The Independent: Thousands more children in poverty since Labour came to power because of two-child benefit cap, charity claims

Age UK: New Age UK analysis shows 2.5 million older people on low incomes - a higher number than first estimated - are set to lose their Winter Fuel Payment and will struggle without it

[2] UK Government: Fixing the foundations: public spending audit 2024-25

     Positive Money: How much would a windfall tax on bank profits raise?

[3] Positive Money: Laughing All The Way to The Bank: Bank Profits Soar While Taxes stay Low

[4] Rachel Reeves speech at Labour Party Conference 2024

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