Dear John,

Barclays and Natwest have just announced MASSIVE profits. [1] While most of us are suffering with the rising cost of living and public services at breaking point, banks are being allowed to make huge profits at the public’s expense.

So Positive Money are calling on Chancellor Jeremy Hunt to make banks pay their fair share - it’s time for a windfall tax on banks, similar to the one on energy companies.

John, we’re rallying thousands of people around the UK to pile the pressure on Hunt while the issue’s high in the news. Please will you add your name to the petition in 30 seconds now?

Since the public bailed out the banks for the financial crash they caused back in 2008, the banks have continued to make huge profits. And this year, they’re particularly big. 

And what’s even more absurd is that last year the government chose to lift the cap on banker’s bonuses and reduce the bank surcharge from 8% to 3%. AND the Bank of England’s choice to raise interest rates has forced households, small businesses and the Bank of England itself to hand billions to banks for doing absolutely nothing. [2]

This has all come at a time when our NHS is at breaking point and families all around the country are struggling to pay huge energy bills. So we believe that if the government really wants to ‘level up’, Chancellor Jeremy Hunt should bring in a windfall tax on banks’ unmerited profits, and help fund our vital public services properly instead.

Positive Money works to reimagine our money, banking and economic system for the wellbeing of people, communities and our planet. We work together to call out injustice and demand better from our leaders.

If you agree that it’s time we made banks pay their fair share, John, please add your name to the petition in 30 seconds now:

Thanks for all you do,

Rachel, Nicole, Simon and the rest of the Positive Money team

Notes:

[1] Natwest 2022 Profits - Positive Money response: https://positivemoney.org/2023/02/natwest-2022-profits-positive-money-response/

Barclays 2022 Profits - Positive Money response: https://positivemoney.org/2023/02/barclays-2022-profits-positive-money-response/

[2] https://obr.uk/efo/economic-and-fiscal-outlook-november-2022/

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