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

The Guardian

BusinessThe Guardian·Sep 10, 2026·1 min read

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…

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