Windfall tax on banks could raise £20bn this year
14 August, 2023New analysis shows there’s more than one way to tax a bank, but all generate billions London, 14 August 2023 - A windfall tax on bank profits could raise anywhere between £5bn and £20bn from the big four UK banks alone this year, depending on how its implemented, according to new analysis from research and [...]
Protesters rail against latest Bank of England rate rise
3 August, 2023Demonstrators called for no more rate hikes and a windfall tax on excess bank profits London, 3 August 2023 - Members of the public gathered outside the Bank of England this morning to protest the Bank of England’s latest interest rate hike, which marks a 15-year high at 5.25%. Demonstrators lamented the decision, arguing that [...]
Treasury meetings dominated by finance as bank profits soar
2 August, 2023Banks have the ear of officials with the power to hit them with a windfall tax, new research reveals London, 2 August 2023 - Big banks and other private financial interests enjoyed more facetime with the Treasury than any other sector last year, dominating over a third of all ministerial meetings in 2022, according to new [...]
HSBC H1 profits: Positive Money response
1 August, 2023London, 1 August 2023 - Responding to HSBC’s announcement this morning that its pre-tax profits for the first half of this year more than doubled to £16.9 billion, up from £7.2 billion for the same period last year, Fran Boait, co-executive director of Positive Money said: “Make no mistake: the growth in HSBC’s profits is [...]
Natwest H1 profits: Positive Money response
28 July, 2023London, 28 July 2023 - Responding to NatWest’s announcement this morning that its pre-tax profits for the first half of 2023 were £3.589 billion, up from £2.62 billion for the same period last year, Fran Boait, co-executive director of Positive Money said: “What a blow to taxpayers that the year NatWest returns to profit is the same [...]
Barclays H1 profits 2023: Positive Money response
27 July, 2023London, 27 July 2023 - Responding to Barclays announcement this morning that its pre-tax profits for the first half of 2023 were £4.6 billion, compared to £3.7 billion for the same period last year, Fran Boait, co-executive director of Positive Money said: “It shouldn’t surprise anyone that Europe’s biggest funder of fossil fuels is profiting [...]
Lloyds Bank & Santander profits: Positive Money response
26 July, 2023London, 26 July 2023 - Responding to announcements from Lloyds Bank and Santander this morning that their pre-tax profits for the first-half of 2023 rose by 23% and 18%, respectively, Fran Boait, co-executive director of Positive Money said: “Lloyds and Santander's latest results are a slap in the face of the public, who are footing the [...]
Landlords made hundreds of billions from the rising value of their properties
18 July, 2023Landlords in England have gained over £400 billion in wealth thanks to real house price rises between 1990-2022 LONDON, 18 July 2023 - Landlords exiting the property market this year this year can expect to benefit from huge capital gain windfalls, as new research from think tank Positive Money finds that the value of privately rented homes [...]
May interest rate rise: Positive Money response
11 May, 2023May 11, 2023 Today, the Bank of England’s Monetary Policy Committee decided to raise interest rates for the 12th consecutive time to a 15-year high of 4.5%. Fran Boait, co-executive director of Positive Money said: “The Bank of England is still failing to read the room: hundreds of thousands of households failed to meet rent [...]