Today John, Chancellor Jeremy Hunt delivered his Spring Budget and missed a huge opportunity. 

Interest rate rises in the last few months have meant banks are making mega-profits without having to lift a finger. [1] But a new windfall tax on banks could bring in tens of billions of pounds, as ex-Bank of England Deputy Governor Charlie Bean agrees. [2]

Please John will you tell Hunt to #TaxTheBanks, it only takes 30 seconds.

This money could be used to fund the NHS or provide emergency support for people having to choose between heating and eating. Instead the biggest banks are pocketing the extra cash and paying out billions of pounds in bonuses. [3]

Between the cost of living crisis, ongoing strikes in our NHS and schools, and the energy crisis, it’s clear this government doesn't have a coherent plan to help people struggling - their only solution is stoking division with asylum seekers fleeing war and persecution and striking workers. [4] 

That’s why we need to keep pushing for a windfall tax on banks' unearned profits, to make sure they pay their fair share.

Please John, join over 4,000 people and call on Jeremy Hunt to #TaxTheBanks now by hitting the button below.

Thanks so much for your support, 

Nicole

Notes:

[1] Positive Money response to Lloyds Bank profits

[2] Bloomberg: https://www.bloomberg.com/news/articles/2022-11-01/uk-should-impose-windfall-tax-on-banks-former-boe-chief-says?leadSource=uverify wall 

[3] The Financial Times: FCA contacts banks’ boards over failure to pass on interest rate rises to savers

The Guardian: Lloyds accused of ‘stuffing bankers’ pockets’ as it proposes £9.1m CEO deal

[4] The Guardian: Hundreds gather in Parliament Square to protest over illegal migration bill

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