Calls for UK bank tax to fund cost of living help as HSBC profits hit £7.5bn

Levy could raise £19bn to help pay for Andy Burnham’s support for those struggling with bills, say campaigners Business live – latest updates Campaigners have renewed calls for a windfall tax on UK banks that could raise £19bn towards Andy Burnham’s cost of living agenda, after HSBC raked in $10.1bn (£7.5bn) worth of profits in the second quarter of the year. Bosses at HSBC reported on Tuesday that profits rose 60% year on year in the three months to the end of June, helped by fees from wea...

By Kalyeena Makortoff Banking correspondent