In response to recent windfalls, this paper presents some options for increasing taxes to raise additional revenue from banks – and to renew a policy of fairer shares that has been abandoned by Sunak. Our estimates for the revenue these options will raise are all very conservative. This is because they are based on OBR forecasts from March 2023 which have not been adjusted for the larger than expected bank profits that have come in over the course of this year.
Afzal Rahman - 17 Nov 2023
Research and reports