It was the financial crash. The govt had to step in to stop a run on the banks and people losing their savings and homes.
Humorous-Prince on
What’s the reason they cannot keeping money back to the tax payer until it’s paid off? Typical.
AlpsSad1364 on
I’m always amazed so many people think bank account holders should have been wiped out.
Or maybe they’ve just not thought very hard about the implications of what they demand.
xParesh on
Is that £10bn loss even inflation adjusted or just the recent share price?
PeriPeriTekken on
For context, the government raised about £3bn in 2023-2024 from bank surcharge and bank levy. That was the first year after the surcharge cut, before that revenues from bank specific taxes would have been about £1.5bn higher.
I couldn’t find a simple figure for how much these taxes have raised since inception and I can’t be bothered to crunch the dataset, but a read off a graph suggests it’s probably about £40-50bn. The industry as a whole has more than paid for the bailouts over time.
5 commenti
It was the financial crash. The govt had to step in to stop a run on the banks and people losing their savings and homes.
What’s the reason they cannot keeping money back to the tax payer until it’s paid off? Typical.
I’m always amazed so many people think bank account holders should have been wiped out.
Or maybe they’ve just not thought very hard about the implications of what they demand.
Is that £10bn loss even inflation adjusted or just the recent share price?
For context, the government raised about £3bn in 2023-2024 from bank surcharge and bank levy. That was the first year after the surcharge cut, before that revenues from bank specific taxes would have been about £1.5bn higher.
I couldn’t find a simple figure for how much these taxes have raised since inception and I can’t be bothered to crunch the dataset, but a read off a graph suggests it’s probably about £40-50bn. The industry as a whole has more than paid for the bailouts over time.