Windfall Tax On High Bank Profits

EDM number 1116 in 2006-07, proposed by Hywel Williams on 13/03/2007.

That this House notes the recent record levels of profit by the top five UK banks; recalls that such levels of profit were described in 2000 as `super normal' by an independent report commissioned by the Treasury; is concerned that this has occurred while consumers have continued to pay high interest on borrowing and receive low interest on savings; and calls on the Chancellor to announce a windfall tax on these excessive profits.

This motion has been signed by a total of 27 MPs.