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Healey to deliver first Budget with bank profits tax

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Story summary
  • Chancellor John Healey will deliver his maiden Budget on October 28, proposing a tax hike on banks' profits.
  • Campaigners propose a 2% levy on assets over £10 million to raise £24 billion annually.
  • IPPR analysis says the wealth tax could fund 130,000 care workers and five million emergency payments.
  • A TUC poll found 68% of voters support cutting energy bills by taxing banks' profits.