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This morning John, the masked CEOs of Barclays, Lloyds, NatWest, and HSBC were caught partying outside Parliament.* |
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Decked out in party hats with inflatable champagne bottles, they were celebrating yet another profitable quarter. Thankfully, a group of demonstrators were there to call on Rachel Reeves to tax their windfall profits instead.
Today's latest announcement from HSBC, brings the total profit for the big 4 UK banks ups to £35.1 billion for 2025 so far - following years of higher interest rates which have pushed up profits without bankers having to lift a finger. |
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Introducing a windfall tax on bank profits could bring in over £14 billion - enough to scrap the two child benefit cap and lift 350,000 children out of poverty, and help fill the black hole in local council budgets to keep libraries running and stop care homes from closing. [1] |
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And the countdown is on John. With less than 30 days to go until the Autumn Budget, we need to push this policy up the agenda - and getting as many MPs to write to the Chancellor about a windfall tax on banks as possible, is our best hope of grabbing her attention.
Unlike the big banks who announced profits of £35 BILLION for 2025 so far this week, we don’t have deep pockets. We can’t afford an army of lobbyists, fancy drinks receptions, or free staff to woo the Chancellor with. [2]
To reach politicians we need to get personal and utilise the strongest power we have: our community. If everyone reading this email hit the button below and wrote to your MP today, we could reach every single MP in the House of Commons by midnight. |
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Because the only way we’re going to win a windfall tax on banks in next month’s budget, is if we all push for it together.
Thank you for all your support, Hannah |
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Hannah Dewhirst Head of Campaigns, Positive Money
*No real bank CEOs were involved with or harmed in the making of these photos
Notes: [1] Positive Money: While “CEOs party” outside Parliament, it’s time to #TaxTheBanks [2] Democracy for Sale: Labour's lobbyist friends Tribune: Labour Party Conference: A Haven for Lobbyists Morning Star: Lobbyist working with Rachel Reeves employed by firm representing Shein |
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