Lib Dems call for a 10% levy on bank profits
Liberal Democrat Treasury Spokesman Vince Cable has proposed a new 10% levy on bank profits, which would be used to start reducingthe UK’s deficit. He claims the levy would raise £2billion next year.
In a statement, Mr Cable said:
“One trillion pounds worth of taxpayer support has gone into keeping the British banking industry afloat. We must find a way to split the banks so that the British public no longer props up ‘casino’ banking.
“Meanwhile, it is only right for the taxpayer to get a fair deal for the guarantee that they provide to the banking industry.
“A 10% levy on bank profits would be used to pay down the structural deficit that they are partly responsible for creating.
“The Government should use next month’s pre budget report to put forward this proposal so that banks recognise the explicit guarantee that they currently enjoy.”
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