Liberal Democrat deputy leader Daisy Cooper has called for a windfall tax on big banks to fund home loans to install renewable energy systems.Cooper, the party’s treasury spokesperson, said the policy would allow home owners and small businesses “to do the right thing” by investing in solar panels, heat pumps and insulation.She said about £7bn a year could be extracted by the end of the decade by taxing what she described as unexpected profits the banks had made as a result of high interest rates.Speaking at the party’s autumn conference in Bournemouth, she announced the Lib Dems wanted to create a new Energy Security Bank to offer loans of up to £20,000 for households.The bank windfall tax policy was originally proposed by the Institute for Public Policy Research (IPPR), whose research showed big banks have seen billions in excess profits due to high interest rates, as an unintended consequence of the quantitative easing programme. Banking sector profits nearly doubled in recent years, from less than £25bn in 2019, to almost £50bn in 2025, according to the latest forecasts.Cooper said the Lib Dems were the first party to call for a windfall tax on oil and gas giants following the invasion of Ukraine – and the big banks had received a similar unexpected profit boost.The windfall tax would allow the government to put forward £2bn in capital to guarantee loans from her new Energy Security Bank, which Cooper claimed could then “unleash up to £10bn o …
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[mwai_chat context=”Let’s have a discussion about this article:nnLiberal Democrat deputy leader Daisy Cooper has called for a windfall tax on big banks to fund home loans to install renewable energy systems.Cooper, the party’s treasury spokesperson, said the policy would allow home owners and small businesses “to do the right thing” by investing in solar panels, heat pumps and insulation.She said about £7bn a year could be extracted by the end of the decade by taxing what she described as unexpected profits the banks had made as a result of high interest rates.Speaking at the party’s autumn conference in Bournemouth, she announced the Lib Dems wanted to create a new Energy Security Bank to offer loans of up to £20,000 for households.The bank windfall tax policy was originally proposed by the Institute for Public Policy Research (IPPR), whose research showed big banks have seen billions in excess profits due to high interest rates, as an unintended consequence of the quantitative easing programme. Banking sector profits nearly doubled in recent years, from less than £25bn in 2019, to almost £50bn in 2025, according to the latest forecasts.Cooper said the Lib Dems were the first party to call for a windfall tax on oil and gas giants following the invasion of Ukraine – and the big banks had received a similar unexpected profit boost.The windfall tax would allow the government to put forward £2bn in capital to guarantee loans from her new Energy Security Bank, which Cooper claimed could then “unleash up to £10bn o …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
