Politics · 26 July 2026
Trade unions press Andy Burnham to tax £55 billion in expected bank profits
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Mtaylor848 via Wikimedia Commons (CC-BY-SA-4.0)
The TUC, representing trade unions, estimates that raising the current 3% tax to 8% would generate £9 billion across four years. Britain's four largest lenders start announcing their half-year earnings this week, benefiting heavily from higher borrowing rates and central bank reserves. Barclays kicks off the announcements on Tuesday, with experts predicting £5.9 billion in profit across the opening half of 2026.
Reported by Daily Mirror · How we write briefs