Should There Be a Windfall Tax on the Banks?

Should There Be a Windfall Tax on the Banks?
Bank of England led interest rate rises have made loans from the banks much more lucrative and in stead of a base rate of less than one percent of interest they now can charge above the base rate of 5.25 percent.
The result is that the commercial and high street banks who have reserve accounts with the Bank of England are now holding around half a trillion pounds they did nothing to earn.
The BoE – the British public – is paying interest at the bank base rate on money we gave to them and they have not used for productive purposes.
The bank of England should at very least charge them a windfall tax to recoup the interest that the banks have accrued.
The group will be discussing this and other related and current campaigns initiated by Positive Money.
Zoom in and join the discussion or just listen.
Phil Tyler is inviting you to a scheduled Zoom meeting.
Positive Money Monthly Discussion
Should There Be a Windfall Tax on the Banks?
Phil Tyler is inviting you to a scheduled Zoom meeting.
Topic: Phil Tyler's Zoom Meeting
Time: Oct 8, 2023 02:00 PM London
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