Bank share prices tumble after calls for tax on profits
The article discusses a proposal by a think tank to introduce a new tax on bank profits, which has resulted in a decline in bank share prices. According to the article, the think tank has suggested that a new bank tax could generate £8 billion in annual revenue. This proposal has caused a significant drop in the share prices of banks. The article does not provide any further details about the proposed tax, such as the specific rates or the rationale behind the think tank's recommendation. It also does not mention the reaction or response from the banking industry or the government. Overall, the article presents a concise summary of the key facts: a think tank has proposed a new tax on bank profits, and this proposal has led to a decline in bank share prices.
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