Europe's Windfall Levies: A Cautionary Tale for London's Bankers The prospect of a windfall tax on Britain's biggest banks is gaining traction ahead of Andy Burnham's autumn budget.
However, a closer look at how such measures have been implemented elsewhere in Europe reveals mixed results.
In Spain, Pedro Sánchez's government introduced a solidarity tax on domestic revenues exceeding €800m in 2022, aiming to raise €3bn over two years to alleviate cost of living pressures.