Politics · 5 August 2026

Andy Burnham urged to tax banks as HSBC reports £14.5 billion profit

Prime Minister Andy Burnham is facing calls for a windfall tax on banks' huge profits in the autumn Budget. HSBC's half-year profits jumped by nearly a quarter to £14.5 billion, adding to over £29 billion from rivals. The TUC suggests raising a 3% bank surcharge to 8% could raise £9 billion over four years.

By BriefTea Editorial · 5 August 2026 at 3:51

Reported by Daily Mirror · How we write briefs

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