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HSBC's £14.5billion profit bonanza sparks demands for windfall tax raid on big banks
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NEWSDECK ANALYSIS
The UK government has previously implemented windfall taxes on certain industries, such as energy companies, to redistribute excess profits and help fund public services. A similar tax on banks could potentially raise significant revenue, which could be used to support households struggling with the cost of living. The Trades Union Congress (TUC) has been a vocal advocate for policies aimed at addressing income inequality and supporting low-income households.
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HSBC's £14.5billion profit bonanza sparks demands for windfall tax raid on big banks
The TUC says there is a "mountain of evidence" for new PM Andy Burnham and Chancellor John Healey to announce a windfall tax on banks' booming profits in the autumn Budget
4 Aug, 07:50
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