£18 billion giveaway for banks hidden in details of Autumn Statement
As the Daily Mirror reports:
Tories have been blasted for an £18 billion “giveaway” to big banks buried in the small print of Jeremy Hunt’s Autumn Statement.
The government’s growth plan, published today, saw the Bank Surcharge drop from 8% to just 3% from April next year.
Today the Lib Dems called for the government to reverse the move, along with a cut to the Bank Levy…
Lib Dem leader Ed Davey MP said: “After all his u-turns, the one thing Rishi Sunak seems determined to press ahead with is cutting taxes for the big banks.
“He’s got his priorities completely wrong and he is totally out of touch with the British people.
“The Conservatives are handing out £18 billion in unfair and unnecessary tax cuts for the big banks, while raising taxes on struggling families and pensioners and leaving millions to pay a Conservative Property Penalty on their mortgage bills. It’s just not right.”
More generally on the Autumn Statement:
Sign up to get the latest news and analysis
"*" indicates required fields
We need to widely highlight unfair tax changes.
People can accept and understand paying more tax to help the country through a difficult period but NOT Banks and other organisations getting handouts of the type outlined here.