“We will apply a windfall tax to obscene bank profits, and we will make sure the support of the welfare state is always there for those who need it.”

Where it stands

The Green Party is not in government, so the card stays at Promised. The party set out the details on 19 August 2026: 38% on the biggest banks' UK retail profits above £800m. The quoted sentence also promises support from the welfare state, which is too general to score.

What has happened

1. Oct 2026Zack Polanski pledges a windfall tax on bank profits in his conference speech, Promised

About the cost

Raises money, so the figures are negative. Year shown: 2026, one year of profits; the party does not say whether the tax would repeat. The party's figure of about £19bn rests on Positive Money's estimate: 38% of the big four banks' £49.7bn of net income above £800m, £18.9bn. Positive Money is a campaign group; no official or independent costing was found on 8 Oct 2026. Low–high is an editorial ±10% because the source gives a central figure only.

• Positive Money: Windfall tax on colossal bank profits could raise £19bn in 2026 (4 Aug 2026)
• Positive Money: 2026 bank windfall tax estimates (PDF)

More detail

Related promises

• Abolish inheritance tax on the family homeConservative PartyPromised
• Raise the tax-free personal allowance to £15,000Liberal DemocratsPromised
• Raise the personal allowance to £15,000Reform UKPromised