Did you hear Reeves hint at tax rises on Monday, John? Well, we’ve got just the policy for her: one that could bring in £11+ billion, targeted at those who’ve profited from the cost of living crisis: a windfall tax on banks. [1]

By taking just a few minutes to email your MP, together we can push the #TaxTheBanks campaign into the inboxes of the very people who can make it a reality this autumn.

The big banks have raked in billions in windfall profits thanks to higher interest rates without having to lift a finger during the cost of living crisis - while our rent, debt, and mortgage payments have soared. 

Lloyds, NatWest, Barclays, and HSBC are on track to make a record £48 billion in profit in 2025 - it’s time for them to pay up. [2] A 38% levy on the UK profits of these Big Four banks alone could bring in over £11 billion - enough to scrap the two child benefit cap and cover the government’s U-turn on welfare cuts. [3]

Momentum has never been stronger, with public support from unions, think tanks, and ex-Prime Minister Gordon Brown, alongside a petition with 37,000+ names and counting - bank CEOs are running scared. [4] But to get a windfall tax in this year’s Autumn Budget, we need to get MPs on board. 

Please, John, email your MP today 👇 It only takes a few minutes!

As a community, we’ve been throwing everything we can at this campaign - taking to the streets, hitting headlines in the press, reaching tens of thousands with the petition and social media, all to spread our #TaxTheBanks message - that’s why now, we need you to take the message directly to your MP.

MPs are able to get responses to letters and questions for the Chancellor which simply wouldn’t be possible for us. And more than anything, they respond to you, their constituents.

Use this template, or personalise the message as much as you like, to call on them to write to Rachel Reeves to turbo-charge the chances of a windfall tax on banks in this year's Autumn Budget. 

A windfall tax on bank profits has never felt closer. Together let’s get it over the line this autumn.

Thanks so much,

Kate

P.S. If your MP doesn’t look right, please let us know your new address and we can update your details for you at [email protected], or click the link at the very bottom of this email.

Notes:

[1] BBC News: Reeves warns of harder choices to come as she hints at tax rises

Positive Money: windfall tax on banks could raise £11 billion
[2] Positive Money: How the government could reclaim the huge payouts to banks

[3] The Mirror: Bank tax could cover cost of welfare U-turn AND scrapping two-child benefit cap

[4] IPPR: Thatcher-style tax on bank windfalls could raise billions for public services, says IPPR

TUC: Taxing the windfall profits of banks
The Guardian: By delaying its child poverty plan, Labour has a chance to reverse 15 years of inequality

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