What’s different about UK inflation?
Positive Money Blog
by Chloe Musto
1w ago
  Countries experiencing lower inflation boast a combination of more active governments, lower dependence on fossil fuels and real conversations about the role of corporate greed What’s happening in the UK? Today, it was announced that inflation fell to 3.4% in February, having peaked at a 41-year high of 11.1% in October 2022. The government […] The post What’s different about UK inflation? appeared first on Positive Money ..read more
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#TaxTheBanks petition delivered to Jeremy Hunt
Positive Money Blog
by Hannah Dewhirst
2w ago
  Ahead of his Spring Budget, we delivered our petition to Number 11 Downing Street to call on Chancellor Jeremy Hunt to introduce a windfall tax on bank profits.  A big thank you to MPs Rebecca Long-Bailey and John McDonnell, and our campaign partners The Equality Trust for joining us, and an even bigger thank […] The post #TaxTheBanks petition delivered to Jeremy Hunt appeared first on Positive Money ..read more
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Bank of England lending should stop subsidising fossil fuels, says think tank
Positive Money Blog
by Chloe Musto
1M ago
Research says green overhaul needed to end ‘hidden subsidy’ to fossil fuel companies London, 28 February 2023 – By accepting financial firms’ fossil fuel assets as collateral against loans made to them, the Bank of England is effectively providing a ‘hidden subsidy’ to environmentally destructive companies, according to a new paper from research and campaign […] The post Bank of England lending should stop subsidising fossil fuels, says think tank appeared first on Positive Money ..read more
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Stop the hidden subsidy to fossil giants: why the Bank of England’s collateral framework matters
Positive Money Blog
by Ellie McLaughlin
1M ago
  Sitting at the very heart of the financial system, collateral frameworks are some of the most powerful tools central banks have. But by not considering the environmental impact of the collateral it accepts, the Bank of England is handing an advantage to damaging sectors like fossil fuels. Our new paper explores how the Bank […] The post Stop the hidden subsidy to fossil giants: why the Bank of England’s collateral framework matters appeared first on Positive Money ..read more
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2024 Positive Money supporter survey results
Positive Money Blog
by Hannah Dewhirst
1M ago
  At the start of 2024, over 800 Positive Money supporters completed our annual survey.  Positive Money’s annual supporter surveys are a great chance to step back, gather feedback on our work from the previous twelve months, and gain a valuable snapshot of what matters most to our community right now. Thanks so much to […] The post 2024 Positive Money supporter survey results appeared first on Positive Money ..read more
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Laughing All The Way to The Bank: Bank Profits Soar While Taxes stay Low
Positive Money Blog
by Sophie Flinders
1M ago
This week the Big Four UK banks — Lloyds, NatWest, Barclays and HSBC — announced pre-tax profits of £44.3 billion – an average of 66 per cent higher than their profits in 2018. Barclays had the highest percentage increase in profits, which have risen 88 per cent, from £3.5 billion to £6.6 billion.  The bank’s […] The post Laughing All The Way to The Bank: Bank Profits Soar While Taxes stay Low appeared first on Positive Money ..read more
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Taxing banks’ record profits could raise £14bn for public services
Positive Money Blog
by Chloe Musto
1M ago
Windfall tax on bank profits would give Chancellor headroom for more spending in upcoming Budget London, 23 February 2024 – A windfall tax on bank profits would raise anywhere between £3.5bn and £14bn from the big four UK banks alone this year, depending on its ambition, according to new analysis from research and campaign group Positive Money. […] The post Taxing banks’ record profits could raise £14bn for public services appeared first on Positive Money ..read more
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Lloyds Bank profits: Positive Money response
Positive Money Blog
by Chloe Musto
1M ago
London, 22 February 2024 – Positive Money responds to Lloyds Bank’s announcement today that its pre-tax profits for 2023 were £7.5 billion, up 57% from the £4.8 billion it made in 2022. Fran Boait, co-executive director at Positive Money, said: “Massive job cuts due to sweeping branch closures show that Lloyds certainly didn’t make these […] The post Lloyds Bank profits: Positive Money response appeared first on Positive Money ..read more
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HSBC record profits: Positive Money response
Positive Money Blog
by Chloe Musto
1M ago
London, 21 February 2024 – Positive Money responds to HSBC’s announcement today that its pre-tax profits 2023 were £24 billion, up from £13.9 billion in 2022. Fran Boait, co-executive director at Positive Money, said: “It’s safe to say HSBC didn’t earn these record profits by providing a better service to customers, given that it closed […] The post HSBC record profits: Positive Money response appeared first on Positive Money ..read more
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Barclays 2023 profits: Positive Money response
Positive Money Blog
by Chloe Musto
1M ago
London, 20 February 2024 – Positive Money responds to Barclays’ announcement today that its full year pre-tax profits for 2023 were £6.6 billion. This is down 6% from £7 billion in 2022. Fran Boait, co-executive director at Positive Money, said: “There is no bank less deserving of windfall profits than Barclays: domestically, it is ruthlessly […] The post Barclays 2023 profits: Positive Money response appeared first on Positive Money ..read more
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