Inflation: Tax banks' enormous profits to cut energy bills, says TUC
Commenting on inflation figures showing CPI up to 2.9 per cent in July, TUC General Secretary Paul Nowak said:
"The Prime Minister has rightly been straight out of the blocks with measures to tackle the cost of living.
"But with inflation ticking up because of rising energy bills – and no end in sight to Trump's illegal war in Iran – we are going to have to see more government action to support households in the coming months.
"Ministers should start by introducing a permanent social tariff to cut energy bills for the majority of households – paid for by taxing banks' enormous profits.
"While higher interest rates have meant mortgage misery and bigger bills for the rest of us, the big banks have been rolling in it. Taxing bank profits to cut bills is plain common sense.”
- TUC calls for social tariff to cut energy bills for two thirds of households as new Price Cap starts https://www.tuc.org.uk/news/tuc-calls-social-tariff-cut-energy-bills-two-thirds-households-new-price-cap-starts
- Big four banks make £29bn in first half of year as TUC calls for increase in tax on bank profits to cut bills https://www.tuc.org.uk/news/big-four-banks-make-ps29bn-first-half-year-tuc-calls-increase-tax-bank-profits-cut-bills
- Media credentials for Congress 2026: This year's Congress will be held in the Brighton Centre (Kings Road, Brighton BN1 2GR) from Sunday 13 September to Wednesday 16 September.
Free media passes can be obtained by completing an online form. To request a link to the application form, please contact media@tuc.org.uk.
- About the TUC: The Trades Union Congress (TUC) exists to make the working world a better place for everyone. We bring together the 5.3 million working people who make up our 47 member unions. We support unions to grow and thrive, and we stand up for everyone who works for a living.
Contacts:
TUC press office
media@tuc.org.uk
020 7467 1248
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