Can you believe it, John? On Monday, the CEOs of big banks, like HSBC and Barclays, got wined and dined by Starmer and Reeves in a nauseating charm offensive. [1] 

The big banks have made billions in the last few years from skyrocketing interest rates, while millions of people suffered from the cost of living crisis. [2] They don’t need more five-star treatment, John.

A windfall tax on bank profits could bring in up to £14 billion - money that could be used to fix our schools, keep pensioners warm, and help fund the NHS this winter. [3] It’s time for this new government to prove whose side they’re really on: us or the banks. 

But right now, your name is missing John. Join thousands of others and tell Rachel Reeves to #TaxTheBanks in her first budget:

Our new government keeps telling us they have to make ‘tough choices’, while they’ve been accepting millions in corporate donations. [4] In a time when banks are shutting down high street branches and cutting their staff at record rates, how is it fair that their profits are higher than ever? [5] 

Taxing them is the right thing to do, to keep the finance sector in check and to make their profits serve the whole of society, not just the City of London. 

We’ve taxed the banks before and we can do it again. It’s really not that radical: Conservative and Labour governments alike have recognised that when banks profit, they can and should be made to share the benefits. [6] 

Add your name to tell Rachel Reeves to #TaxTheBanks - it only take 30 seconds

Thanks so much for your support,

Kate, Positive Money

Notes:

[1] The Guardian: Elton John and Michelin meals: Labour pulls out all the stops to woo investors 

[2] City AM: Lloyds, HSBC, Barclays and Natwest post record £44bn profits from global interest rate hikes
The Guardian: Crumbling England: from schools to hospitals, how bad is the current crisis?
[3] Positive Money: Taxing banks’ record profits could raise £14bn for public services

[4] The Guardian: Rachel Reeves aims to find £40bn in tax rises and spending cuts in budget
The Canary: Labour in ANOTHER fresh cash-for-access scandal over corporate lobbying

[5] Which?: Bank branch closures: is your local bank closing?

[6] The Guardian: A brief history of windfall taxes: who used them and why

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