WINDFALL TAX ON HIGH BANK PROFITS

Early day motion 1116, tabled 13 March 2007 by Hywel Williams (Plaid Cymru). Signed by 27 members.

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.

Signatures by party: Labour 20, Plaid Cymru 3, Social Democratic and Labour Party 2, Liberal Democrat 1, Respect 1.