banking profits

Starmer rallies in support of the rich as he comes under pressure to tax wealth

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https://morningstaronline.co.uk/article/starmer-rallies-support-rich-he-comes-under-pressure-tax-wealth

 A view of £5, £10, £20 and £50 bank notes

… KEIR STARMER rallied to the support of the rich today as he came under pressure to solve the budget crisis with a wealth tax.

The Prime Minister told MPs that “we can’t just tax your way to growth” after calls from within and without Labour to get the rich to pay more.

Green Party co-Leader Adrian Ramsay told him that he should stand by his pledge that “those with the broadest shoulders must bear the heaviest burden” and make it clear that meant the “ultra-wealthy.”

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Former Welsh First Minister Mark Drakeford was also pressing the case for a wealth tax, joining former Labour leader Neil Kinnock, who had said at the weekend that the government should explore the idea.

Mr Drakeford told the BBC that Ms Reeves should look at taxing the online gambling industry and banking profits. “I think wealth taxes absolutely need to be looked at,” he added.

“We’re a sharply unequal society. We’ve become more and more unequal. The root of that inequality is the way that wealth is distributed across the population.”

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Article continues at https://morningstaronline.co.uk/article/starmer-rallies-support-rich-he-comes-under-pressure-tax-wealth

Yougov: Would you support or oppose introducing a wealth tax of 2% on wealth above £10 million?
Yougov: Would you support or oppose introducing a wealth tax of 2% on wealth above £10 million?
Keir Starmer confirms that he's proud to be a red Tory continuing austerity and targeting poor and disabled scum.
Keir Starmer confirms that he’s proud to be a red Tory continuing austerity and targeting poor and disabled scum.
Keir Starmer warns against following the https://onaquietday.org blog.
Keir Starmer warns against following the https://onaquietday.org blog.
Continue ReadingStarmer rallies in support of the rich as he comes under pressure to tax wealth

Bankers roll in cash as pensioners freeze and children forced to go hungry

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https://morningstaronline.co.uk/article/bankers-roll-in-cash-as-pensioners-freeze-and-children-forced-to-go-hungry

People walking near the Bank of England

RACHEL REEVES’S decision to protect fat cat bankers has lost the public £15 billion — money that could have saved freezing pensioners and hundreds of thousands of children from going hungry, a damning new report found today.

Campaigners for a windfall tax on banking profits slammed the Chancellor after it emerged that Britain’s four biggest banks made a record £45.9bn in profits for 2024.

Positive Money found that the policy, called for by unions and left MPs, would have brought in an additional £14.7bn for the Exchequer this year after Lloyds Bank became the last of the so-called Big Four to announce its £6bn pre-tax profits for last year.

The group calculated that increasing the existing surcharge on bank profits from 3 to 35 per cent, in line with the government’s windfall tax on energy companies, could have raised this sum from Lloyds, HSBC, Barclays and NatWest alone.

This would be enough to cover the cost of scrapping the two-child benefit cap — fives times over.

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Article continues at https://morningstaronline.co.uk/article/bankers-roll-in-cash-as-pensioners-freeze-and-children-forced-to-go-hungry

Keir Starmer, Angela Rayner and Rachel Reeves wear the uniform of the rich and powerful. They have all had clothes bought for them by multi-millionaire Labour donor Lord Alli. CORRECTION: It appears that Rachel Reeves clothing was provided by Juliet Rosenfeld.
Keir Starmer, Angela Rayner and Rachel Reeves wear the uniform of the rich and powerful. They have all had clothes bought for them by multi-millionaire Labour donor Lord Alli. CORRECTION: It appears that Rachel Reeves clothing was provided by Juliet Rosenfeld.
Keir Starmer says pensioners can freeze to death and poor children can starve and be condemned to failure and misery all their lives.
Keir Starmer says pensioners can freeze to death and poor children can starve and be condemned to failure and misery all their lives.

Editorial:The stark division in modern capitalist Britain – people or profits

Continue ReadingBankers roll in cash as pensioners freeze and children forced to go hungry