Calls for UK bank tax to fund cost of living help as HSBC profits hit £7.5bn

7 hours ago

Levy could raise £19bn to help pay for Andy Burnham’s support for those struggling with bills, say campaigners

Campaigners have renewed calls for a windfall tax on UK banks that could raise £19bn 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.

Bosses at HSBC reported on Tuesday that profits rose 60% year on year in the three months to the end of June, helped by fees from wealth management and insurance business, as well as higher interest rates, which allow the bank to charge more for loans and mortgages.

Continue reading...
Click here to Read More
Previous Article
Greece's wildfires claim lives as firefighters struggle to contain flames
Next Article
Everything points to 'yes': Ronaldo and Georgina may marry this weekend

Related World Updates:

Are you sure? You want to delete this comment..! Remove Cancel

Comments (0)

    Leave a comment