Greens call for windfall tax on big banks

The Green Party of England and Wales is calling for a 38% windfall tax on the profits of big banks to support small and medium-sized businesses.

Leader Zack Polanski said the tax would be applied to UK profits of more than £800m and be used to cut tax bills for a million smaller companies.

The idea was floated by the campaign group Positive Money, which estimated it would raise £19bn a year.

Polanski has previously claimed banks are ripping off customers and suggested they should pay 'a bit more tax' - but this is the first time the Greens have put numbers on the policy.

The Green Party of England and Wales is calling for a 38% windfall tax on the profits of big banks to support small and medium-sized businesses. Leader Zack Polanski said the tax would be applied to UK profits of more than £800m and be used to cut tax bills for a million smaller companies.

The idea was floated by the campaign group Positive Money, which estimated it would raise £19bn a year. The Green Party has previously claimed banks are ripping off customers and suggested they should pay 'a bit more tax' - but this is the first time the Greens have put numbers on the policy.

Polanski has argued that small businesses lie at the heart of our communities, while the large banks are cashing in on the backs of these innovators and creators. He claimed the UK's biggest banks are regularly making record-breaking profits, not from improved services or products, but from high interest rates set by the Bank of England.

The Green Party of England and Wales is calling for a 38% windfall tax on the profits of big banks to support small and medium-sized businesses. Leader Zack Polanski said the tax would be applied to UK profits of more than £800m and be used to cut tax bills for a million smaller companies.

The idea was floated by the campaign group Positive Money, which estimated it would raise £19bn a year. The Green Party has previously claimed banks are ripping off customers and suggested they should pay 'a bit more tax' - but this is the first time the Greens have put numbers on the policy.

Polanski argued that small businesses lie at the heart of our communities, while the large banks are cashing in on the backs of these innovators and creators. He claimed the UK's biggest banks are regularly making record-breaking profits, not from improved services or products, but from high interest rates set by the Bank of England.

The Green Party of England and Wales is calling for a 38% windfall tax on the profits of big banks to support small and medium-sized businesses. Leader Zack Polanski said the tax would be applied to UK profits of more than £800m and be used to cut tax bills for a million smaller companies.

The idea was floated by the campaign group Positive Money, which estimated it would raise £19bn a year. The Green Party has previously claimed banks are ripping off customers and suggested they should pay 'a bit more tax' - but this is the first time the Greens have put numbers on the policy.

Polanski argued that small businesses lie at the heart of our communities, while the large banks are cashing in on the backs of these innovators and creators. He claimed the UK's biggest banks are regularly making record-breaking profits, not from improved services or products, but from high interest rates set by the Bank of England.

The Green Party of England and Wales is calling for a 38% windfall tax on the profits of big banks to support small and medium-sized businesses. Leader Zack Polanski said the tax would be applied to UK profits of more than £800m and be used to cut tax bills for a million smaller companies.

The idea was floated by the campaign group Positive Money, which estimated it would raise £19bn a year. The Green Party has previously claimed banks are ripping off customers and suggested they should pay 'a bit more tax' - but this is the first time the Greens have put numbers on the policy.

Polanski argued that small businesses lie at the heart of our communities, while the large banks are cashing in on the backs of these innovators and creators. He claimed the UK's biggest banks are regularly making record-breaking profits, not from improved services or products, but from high interest rates set by the Bank of England.