The Windfall Tax Debate: A Tale of Two Cities As Andy Burnham's government considers implementing a windfall tax on bank profits, the City is bracing itself for battle.
For years, bankers have complained about taxes and regulations, but this time their cries seem to be falling on deaf ears. The UK's four largest lenders HSBC, NatWest, Barclays, and Lloyds reported a staggering £29.
2 billion in profits over the first six months of the year, with almost half pledged to investors through dividends and share buybacks.