# Apply a windfall tax to bank profits

> “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.”
>
> — Green Party of England and Wales; Leader's speech, Green Party autumn conference 2026, 2 October 2026

- **Status:** Promised
- **Status ladder:** Promised → In plan → Legislated → Funded → Delivering → Delivered
- **Policy area:** [Taxes](https://ledgergov.uk/promises/area/taxes)
- **Speaker:** [Green Party of England and Wales](https://ledgergov.uk/actor/green-party)
- **Made on:** 2 October 2026
- **Where:** Leader's speech, Green Party autumn conference 2026
- **Cost a year:** Raises £17.1bn to £20.9bn a year (central £19bn)
- **Who it affects:** The UK's biggest banks, on their UK retail profits above £800m
- **When:** Not stated
- **Paid for by:** Not a spending pledge; the party says £14.8bn of the money raised could give small and medium-sized businesses a larger Employment Allowance
- **Quote source:** https://greenparty.org.uk/2026/10/02/zack-polanskis-speech-to-conference-in-full/ (checked word for word on 8 October 2026; Quoted for reporting; rights stay with the publisher)
- **Last updated:** 8 October 2026
- **Card:** https://ledgergov.uk/promise/uk-green-bank-windfall-tax-2026

## 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.

## Timeline

- 2 October 2026, Promised: Zack Polanski pledges a windfall tax on bank profits in his conference speech

## 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.

Costing sources:
- [Positive Money: Windfall tax on colossal bank profits could raise £19bn in 2026 (4 Aug 2026)](https://positivemoney.org/uk/press-release/windfall-tax-on-colossal-bank-profits-could-raise-pound19bn-in-2026/)
- [Positive Money: 2026 bank windfall tax estimates (PDF)](https://www.datocms-assets.com/132494/1785825253-2026-bank-windfall-tax-estimates.pdf)

## Sources

- [Green Party: Zack Polanski's speech to conference in full (2 Oct 2026)](https://greenparty.org.uk/2026/10/02/zack-polanskis-speech-to-conference-in-full/)
- [Green Party: Greens announce windfall tax on the profits of big banks (19 Aug 2026)](https://greenparty.org.uk/2026/08/19/greens-announce-windfall-tax-on-the-profits-of-big-banks/)
- [Positive Money: Windfall tax on colossal bank profits could raise £19bn in 2026 (4 Aug 2026)](https://positivemoney.org/uk/press-release/windfall-tax-on-colossal-bank-profits-could-raise-pound19bn-in-2026/)

## Checks

- Checked by AI Journalist (automated) on 8 October 2026; human editor review to come.

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