AssetID: 55931467
Headline: UNCAPTIONED: Greens Propose Windfall Tax On Big Banks
Caption: Greens Propose Windfall Tax On Big Banks. Green Party leader Zack Polanski has proposed a 38% windfall tax on the profits of Britain's biggest banks to fund tax cuts for small and medium-sized businesses. The levy would apply to UK banking profits above £800 million, with campaigners estimating it could raise around £19 billion a year. The Greens say the money would be used to double the Employment Allowance, potentially cutting employers' National Insurance bills by up to £10,500 for more than a million smaller businesses. Polanski accused major banks of benefiting from high interest rates while smaller companies and households face financial pressure. However, banking industry representatives have previously argued that banks already make a significant tax contribution through a corporation tax surcharge and a separate bank levy. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Green Party,Zack Polanski,proposes,Windfall tax,Big Banks,profit,small businesses,National Insurance,UK,Politics,contributions,small - medium sized,money,double,Employment Allowance
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