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Calls mount to end Bank of England's £24bn annual subsidy to commercial banks

A letter argues that stopping the interest paid on bank reserves is a better alternative to imposing a windfall tax.

1 publisher · 1 article · first seen 10 Sept 2026 · updated 2d ago

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  1. Why are we giving a £24bn-a-year subsidy to profitable commercial banks? | Letter The Guardian Business ·

In this story

  • Bank of England
  • Gerald Holtham