#TaxTheBanks

🎉BIG WIN as Chancellor John Healey uses his first Budget to #TaxTheBanks💰

Thanks to every single one of the 100,000+ people who signed - not just this petition to John Healey but to ex-Chancellors Rachel Reeves & Jeremy Hunt too - as we’ve fought to #TaxTheBanks since 2022.

Higher interest rates pushed up our debt, rent & mortgage payments while big banks raked in years of record-breaking profits without having to lift a finger. In choosing to #TaxTheBanks today, John Healey has ignored big bank and City lobbyists & taken the side of ordinary people to help with energy bills, and this is worth celebrating 🥳

The fight is far from over but (as we’ve learned over the last 16 years!) victories over big finance are few & far between, so today’s win on the tug of war between big banks & ordinary people is worth celebrating 💛

Read more details in our blog: https://positivemoney.org/uk/update/big-win-in-budget-2026/

1 week to go until John Healey's first Budget, who will win the tug of war between big banks and the rest of us? We're hopeful it'll be #TaxTheBanks 💰 thanks to the nearly 100,000 signatures we delivered to the Chancellor at Number 11 Downing Street!
https://www.youtube.com/shorts/nVr__dVzBa0
Check out the photos & read all the details in our blog:
https://positivemoney.org/uk/update/tug-of-war-at-downing-street-to-taxthebanks/

👏 It's fantastic to have the head of the Trades Union Congress (TUC) Paul Nowak join our call for Burnham to #TaxTheBanks in next month's Budget! 💰
Check out & share our latest video on
Facebook - https://www.facebook.com/reel/1853955918911074
TikTok - https://www.tiktok.com/@positivemoneyuk/video/7686128813687770390?lang=en
Instagram - https://www.instagram.com/p/DdY3BJKAisy/
and Bluesky now - https://bsky.app/profile/positivemoneyuk.bsky.social/post/3mvni3qumuv2g

Our campaign has been in the papers again (and again, and again!) 📰 in The Guardian, The Times, and the Financial Times; where Chancellor John "Healey refused to rule out higher taxes on burgeoning bank profits." 💰

The door to #TaxTheBanks is open - now we need to push as hard as we can 💪 so please help by sharing the petition between now and Burnham & Healey's first Budget next month!
https://bsky.app/profile/positivemoneyuk.bsky.social/post/3mun523vwgb2w
https://bsky.app/profile/positivemoneyuk.bsky.social/post/3muwnimlcqw2x
https://bsky.app/profile/positivemoneyuk.bsky.social/post/3muyuzsnvxt2x

"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."
https://www.bbc.co.uk/news/articles/cwy49k5x0w1o
Fantastic to have a political party fully on board with our call to #TaxTheBanks!

👏 Full page in the Mirror 📰 on #TaxTheBanks! 💰

Banks are profiting from the cost of living crisis - just like oil & gas companies - so we believe they deserve a windfall tax like them too.

Join 72,206 names & counting, and sign & share the petition 👉 bit.ly/TaxTheBanks

https://bsky.app/profile/positivemoneyuk.bsky.social/post/3mse7iydz2l2v

"Campaigners have renewed calls for a windfall tax on UK banks that could raise £19 billion towards Andy Burnham’s cost of living agenda, after HSBC raked in $10.1bn (£7.5bn) worth of profits in the second quarter of the year."

The case for a windfall tax on banks has never been stronger - now let's do everything we can to make sure #TaxTheBanks is at the top of new Prime Minister and Chancellor John Healey's to-do list for their first Budget this autumn!
https://www.theguardian.com/business/2026/aug/04/uk-bank-tax-hsbc-profits-andy-burnham

Andy Burnham urged to unleash tax raid on banks amid £55billion profit bonanza 💰

With Britain’s big banks on course for yet another year of record profits, let’s not forget they’ve been one of the biggest beneficiaries of this cost of living crisis. Higher interest rates have allowed them to suck these profits from both their customers and the Treasury, who are footing the bill for higher rates paid on banks’ risk-free reserves at the Bank of England.

The new Prime Minister has a clear chance to break away from the unpopularity of his predecessor by standing up to City lobbyists and taxing banks’ unearned windfalls to cover his announcements to tackle the cost of living crisis and help millions of households across the country.
https://www.mirror.co.uk/money/andy-burnham-urged-unleash-tax-37474085

New Chancellor, same demand: #TaxTheBanks!
With banks dishing out *£16.4 BILLION* worth of bonuses (the highest since the financial crisis of 2008) the cost of living crisis must be something of a fantasy to City bankers.
New PM Andy Burnham and his Chancellor John Healey have been handed a rare opportunity to rebalance the scales in the public’s favour and implement a policy that won’t cost the Government a penny. Sign and share to tell them to seize the chance now! https://www.mirror.co.uk/money/british-bank-workers-bonuses-soar-37425541

Campaigners call + celebrate: no rate rises from the Bank of England!
Today, the Bank of England thankfully decided to hold interest rates at 3.75% - after we headed down to Threadneedle Street to demand them not to raise rates again.
2026 was meant to be the year rates kept coming down but the ongoing war in Iran is keeping our energy and food bills high. Unfortunately, interest rates are the *wrong tool* to deal with supply-side inflation like this, all they do instead is drive up our debt, rent, mortgage payments whilst handing even more record-breaking profits to the big banks - as Lloyds bank is proof of this week - reporting a 33% jump in Q1 profits from last year thanks to higher rates.
The very least the government and Chancellor Rachel Reeves can do is #TaxTheBanks to claw some of these windfall profits back and help those suffering most from the cost of living crisis!
Read more details here: https://positivemoney.org/uk/update/bank-of-england-no-rate-rises/

The Chancellor’s missing billions!
Following the release of new bank profit figures for 2025, we've calculated Rachel Reeves could've raised £12.5 billion by taxing the windfall profits of the big four UK banks in last year's Autumn Budget - instead of squeezing the pips of ordinary people and small businesses with freezing income tax and national insurance thresholds.

Full details: https://positivemoney.org/uk/press-release/the-chancellors-missing-billions-windfall-tax-on-banks-couldve-raised-pound125bn/

In last week's Budget, those with the broadest shoulders still slipped the net: the big banks making record profits.

We’re disappointed the Chancellor opted to listen to lobbyists over the electorate.
Read our Budget reaction blog: https://positivemoney.org/uk/update/autumn-budget-2025-banks-escape-and-lobbyists-celebrate/

We delivered nearly 70,000 signatures to Number 11 Downing Street to call on Chancellor Rachel Reeves to #TaxTheBanks in her Autumn Budget tomorrow!

Thanks so much to MPs Richard Burgon and Simon Opher, campaigners from 38 Degrees, and every single one of you who signed! 💜
https://positivemoney.org/uk/update/taxthebanks-petition-delivered-to-rachel-reeves/