26 Jul 2023

“Not convinced by the evidence for a windfall tax on the banks”, says shadow chancellor

Economics Correspondent

Labour wants banks to be compelled to follow a new set of rules – rather than just leaving it up to them.

We asked the shadow chancellor Rachel Reeves whether Labour would introduce a windfall tax on bank profits.

But we started on Natwest and the resignation of its CEO Dame Alison Rose. The interview was before Rose’s departure – but her concern over the treasury’s focus remains unchanged.