Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing a tax on windfall profits from the banking sector.

Banks already face an additional rate of tax on their profits in the form of the Bank Corporation Tax Surcharge – meaning they pay 3% more on their profit than most other businesses. This is in addition to a charge on the largest banks’ balance sheets in the form of the Bank Levy.