Call for additional tax on major banks in the UK: 'If you made a profit, contribute'

According to research by EKOTÜRK Europe representative Gökhan Kurtaran, while the public in the UK feels the pressure of the cost-of-living crisis, the announcement of a record 45.9 billion pound profit by major banks in 2024 has sparked significant public backlash.

Almost all of these profits came from the four major banks: Barclays, HSBC, Lloyds, and NatWest.

The organization Positive Money is demanding that a portion of these profits be clawed back through an additional “windfall tax” and that this revenue be used for social benefits and public services.

Although it was announced in last week's spending review that public investment would increase, how these expenditures will be financed remains a question mark. Public opinion polls reveal that the public supports higher taxes on the wealthy and large corporations.

As part of the campaign, it is requested that the tax rate applied to these banks be increased to the 35% rate applied to energy giants. It is stated that this step could generate approximately 15 billion pounds in new public revenue.

Meanwhile, the government's plans to cut PIP (Personal Independence Payment) benefits for disabled individuals are fueling debates on social justice. Many non-governmental organizations and the opposition warn that these cuts will make citizens who are already in difficult situations even more vulnerable.

News Source: 12punto