Reinstate windfall tax on banks after surge in profits, TUC urges
Published by WarSignal Editorial · Last updated
Unions group wants rate returned from 3% to 8% after big four UK lenders reveal £14bn total profit in first quarter An increased windfall tax should be imposed on the UK’s largest banks according to trade union leaders, after the big four lenders reported almost £14bn in first-quarter profits, partly fuelled by market turbulence caused by the Iran war.
The Trades Union Congress (TUC) renewed its call for an increase in the current bank surcharge, which was reduced from 8% to 3% of profits above £100m by the Conservative government in 2023, as banks benefit from the high interest rate environment. Continue reading...
Verification Status
unverified — Unverified — single source, not yet confirmed This event has been confirmed by 1 independent sources.
Location
Sources (1)
About This Report
This report is generated by WarSignal's multi-source intelligence pipeline. Information is collected from wire services, OSINT channels, and partner APIs, then clustered, verified, and published with editorial oversight. Source attribution and verification status are displayed for full transparency. For our complete methodology, visit our Sources & Methodology page.