Why are we giving a £24bn-a-year subsidy to profitable commercial banks? | Letter

Sources

Coverage

Limited spectrum

Sentiment

0.00

◀ Left 100%Centre 0%Right 0% ▶

How we rate bias →

This story is currently only covered by one source from a single part of the political spectrum. NewsDeck will update this page automatically if other outlets pick up the story.

shopping_bagUK Politics & Current Affairs Books

Go deeper than the headlines with books from journalists and historians covering British politics.

Browse books on Amazonarrow_forward

NewsDeck Poll

Do you think this story is being covered fairly across the political spectrum?

Loading…

Left

(1)

Guardian Business

Why are we giving a £24bn-a-year subsidy to profitable commercial banks? | Letter

Gerald Holtham suggests that it time to cut the 3.75% that the Bank of England pays out on the lenders’ reserves There are increasing calls for a windfall tax on banks (Taxing the banks: what Europe’s windfall levies brought in as Burnham eyes his next move, 2 September). Such a tax is unnecessary; it would be enough simply to stop paying commercial banks a huge existing subsidy. The Bank of England holds the reserve…