Early day motion tabled by primary sponsor Richard Burgon (Labour), on Monday, 12 October 2026, in the House of Commons. It is signed by 36 members in total.

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Taxation of bank windfall profits

That this House notes that major banks have made tens of billions of pounds in additional profits as interest rates have increased in recent years; further notes that this has happened while millions of people struggle with higher mortgage payments and rents and a wider cost-of-living crisis; also notes analysis estimating that a tax on bank windfall profits could raise up to £15 billion a year; recognises that the Government rightly applied a windfall tax to the super-profits of oil and gas companies; believes that the same principle should apply to the banks; and further believes that the Government should introduce a tax on bank windfall profits, with the revenues used to support people with the cost-of-living and to invest in public services.

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Secondary information

Type

Early day motion

Reference

927 

Session

2026-27

Other sponsors

Rebecca Long Bailey

Kim Johnson

Cat Eccles

Neil Duncan-Jordan

Bell Ribeiro-Addy

Subjects

Banks Profits Taxation

Link

View this Early day motion on edm.parliament.uk