Burnham Urged to Increase Tax on Banks as Barclays' Profits Soar The news that Barclays has seen a 30% increase in its half year bonus pool, accompanied by a 31% rise in pre tax profits for the second quarter, highlights the widening gulf between Britain's financial elite and the rest of the population.
As Andy Burnham's government grapples with the cost of living crisis, the notion that banks like Barclays can continue to rake it in while working people struggle to make ends meet becomes increasingly unpalatable.
The Trades Union Congress has criticized the banking sector's windfalls, arguing that high interest rates have boosted profits for lenders while inflicting mortgage misery and higher bills on the wider public.