Calls for UK bank tax to fund cost of living help as HSBC profits hit £7.5bn
HSBC profits rose 60% year on year in the three months to the end of June. Photograph: Anthony Devlin/PAView image in fullscreenHSBC profits rose 60% year on year in the three months to the end of June. They told journalists over the past week that they were encouraged by Burnham’s economic vision, but stressed that their ability to lend money to businesses was crucial for new prime minister’s growth ambitions.
- ▪HSBC profits rose 60% year on year in the three months to the end of June.
- ▪Photograph: Anthony Devlin/PAView image in fullscreenHSBC profits rose 60% year on year in the three months to the end of June.
- ▪They told journalists over the past week that they were encouraged by Burnham’s economic vision, but stressed that their ability to lend money to businesses was crucial for new prime minister’s growth ambitions.
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| Original publisher | The Guardian — World |
| Canonical URL | https://www.theguardian.com/business/2026/aug/04/uk-bank-tax-hsbc-profits-andy-burnham |
| Publication time | Tue, 04 Aug 2026 09:10:36 GMT |
| Retrieval time | 2026-08-04T09:20:44.363Z |
| Last seen | 2026-08-04T09:20:44.363Z |
| Headline source | Publisher (no WeSearch rewrite) |
| Excerpt source | publisher body |
| Excerpt method | First ~120 words (~800 chars) of extracted publisher body, fair-use limited. |
| Summary | WeSearch · cerebras-chat (WeSearch summarizer) |
| Summary source text | contentText |
| Citation coverage | Summary is a WeSearch-generated derivative; primary citation is the original publisher URL. |
| Cluster | nsR8ePzxqozw · 1 stories |
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| Ranking reason | Story pages are not engagement-ranked. Hub feeds use recency, with optional source-diversified chronological ordering (cap consecutive stories per source). No personalized ranking. |
| Publisher visit | Yes — open original |
| Substitutes article? | No — link-out required for full text |
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| Snippet | May a short excerpt of the publisher's text be shown? | Allowed |
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| Retrieval / RAG | May the content be exposed for third-party retrieval-augmented generation? | Not asserted |
| Model training | May the content be used to train AI models? | Not asserted |
| Commercial reuse | May the content be reused commercially? | Not permitted |
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HSBC profits rose 60% year on year in the three months to the end of June. Photograph: Anthony Devlin/PAView image in fullscreenHSBC profits rose 60% year on year in the three months to the end of June. Photograph: Anthony Devlin/PABankingCalls for UK bank tax to fund cost of living help as HSBC profits hit £7.5bnLevy could raise £19bn to help pay for Andy Burnham’s support for those struggling with bills, say campaigners Business live – latest updates Kalyeena Makortoff Banking correspondent Tue 4 Aug 2026 05.10 EDTLast modified on Tue 4 Aug 2026 05.11 EDTSharePrefer the Guardian on GoogleCampaigners 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…
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