2 Mar 2011

Call for windfall tax on banks

Stroud last week saw protests as part of UK Uncut's 'Big Society Bail-In' (see left). Barclays were first to be targetted after their recent announcement of an enormous bonus pool of £3.4bn, with a personal bonus of £9m to go to CEO Bob 'the time for remorse is over' Diamond. See my last blog and film with John Christensen praising Uncut UK here.

At the Green party conference Caroline Lucas criticised the huge profits announced by UK banks - a stonking £25 billion. A windfall tax would restore public spending and help minimise the damage done by the cuts regime to public services, the economy and society as a whole.

At a time of austerity, it is just not right that banks such as Lloyds TSB, part owned by the tax payer, are recording such huge profits. At the conference it was noted that there would be wide public support for a measure requiring the banks to pay a windfall tax on bank profits of 50%.

1 comment:

Anonymous said...

The governor of the Bank of England warned yesterday that living standards may never recover from the financial crisis and that households were only just starting to feel the full impact of bankers' mistakes.