Britain plans tax raid on its banks

Among the moves being considered by ministers is a one-off windfall tax on profits, the newspaper said. It cited unidentified finance sources who said a similar tax had been imposed in 1981. Finance minister Alistair Darling is due to outline the government’s tax and spending plans in his pre-Budget report within weeks.

In his weekly podcast yesterday, Prime Minister Gordon Brown said the government was taking “extensive action to reform the whole culture of the financial sector.” “I’m determined to end the reckless banking practices that have left so many of you worried about your household budgets,” he said.

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