Bank Rates: Windfall tax plan is not for banks – Labour

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Sky News published this video item, entitled “Bank Rates: Windfall tax plan is not for banks – Labour” – below is their description.

Shadow education minister Bridget Phillipson today told Sky News that Labour’s plan for a windfall tax would be for oil and gas companies rather than banks.

It comes as major banks have been accused of profiteering by failing to increase the saving rate in line with interest, despite hiking mortgage costs.

A number of banks will appear before the Financial Conduct Authority today.

Politics latest: https://news.sky.com/story/politics-latest-chancellor-to-meet-regulators-in-bid-to-tackle-cost-of-living-another-minister-pauses-support-for-korski-12593360

#windfalltax #labourparty #skynews

Sky News YouTube Channel

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About This Source - Sky News

Sky News is a British free-to-air television news channel and organisation. Sky News is distributed via a radio news service, and through online channels. It is owned by Sky Group, a division of Comcast. John Ryley is the head of Sky News, a role he has held since June 2006.

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