I was at Labour Conference last week, John, and ‘taxes’ was the word on everyone’s lips.

Now all the Party Conferences are over, MPs will be back in their offices on Monday morning. Together, we need to push the #TaxTheBanks campaign to the top of MP's inboxes, because they’re the people who can make it a reality this autumn.

But first, let me introduce myself. My name is Sara Hall, I joined Positive Money as Co-Executive Director back in May and since my very first day I’ve felt it in the air how exciting the #TaxTheBanks campaign is, and seen it build and build - but we’re not there yet.

At one of the conference sessions, I put the question of bank taxes directly to the Tax Minister Dan Tomlinson, but did not get an answer, so we need to keep pushing John.

Because let’s be frank: the need for this policy has never been more stark. The UK’s Big Four banks are on track for a record £48 billion in profit in 2025, while we’re left struggling with bills during a cost of living crisis with no end in sight. [1] It’s not right, but together we can change this.

Momentum for progressive taxes is growing in strength - so much so that Starmer was forced to mention wealth taxes in his key speech. [2]  That’s the power our movement can have, John.

Not only that, but on Monday, bank taxes made the front page of The i newspaper, reporting the Treasury is “actively considering” increasing taxes on banks. [3] Now we need your MP to make sure it becomes a reality.

As a community, we’ve been throwing everything we can at this campaign - joining a rally alongside thousands in central London to Make Them Pay, a full-page splash in The Mirror, an op-ed in LabourList, getting support from the Trades Union Congress (TUC) and the Liberal Democrats - momentum is truly on our side. [4] But we can't leave anything to chance in this year's Autumn Budget - that’s why now, we need you to take the message directly to your MP.

When MPs ask questions to the Chancellor, she has to listen. And what motivates MPs to take action? You, their constituents. So, with less than two months to go until the Autumn Budget, every voice can make a difference.

So if you’ve got 5 minutes John, please hit the button below, to use our template to write to your MP to turbo-charge the chances of a windfall tax on banks!

Thanks so much,

Sara

Sara Hall

Co-Executive Director, Positive Money

Notes:

[1]  Positive Money: How the government could reclaim the huge payouts to banks

[2] Tax Justice UK: Instagram video ‘A #WealthTax won’t fix all the UK’s problems, but it would be a start.’

[3] The i paper: Reeves weighs up tax hike on banks that could raise £2bn

[4] Positive Money Instagram: We’re at the Make Them Pay rally

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

LabourList: ‘Taxing banks is a political no-brainer to fill the Chancellor’s fiscal hole’

TUC: Taxing the windfall profits of banks

BBC News: Lib Dems call for bank windfall tax to fund green energy home loans

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