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Story summary
- Green Party of England and Wales leader Zack Polanski proposes a 38% windfall tax on big banks' UK profits.
- The tax would target domestic profits above £800 million per bank.
- Positive Money estimates the levy could raise £19 billion annually.
- Revenue would double the Employment Allowance and cut up to £10,500 from SMEs' National Insurance bills.
- UK Finance warned banks already pay a corporation tax surcharge and a bank levy.
