The Trades Union Congress (TUC) has renewed its calls for an increase in the bank surcharge tax. This comes as UK households and firms face the effects of “Trumpflation”.

The bank surcharge is an additional 3% corporation tax on the profits of banking companies exceeding £100m. In April 2023 the Conservatives reduced it to this level from 8%.

With Donald Trump’s illegal war unleashing economic chaos, the union body says it’s vital that banks play their part in any efforts to protect the economy by paying their fair share in tax.

The longer the war goes on, the more likely support for households and industry will be necessary. And that will require funding.

The TUC says working people are facing the impact of the Trump-made cost of living crisis. And it urges the government to pull out all the stops to protect households and firms.

The union body adds that banks must play their part in rebuilding Britain and funding our public services like schools, hospitals and local councils.

City of London fat cats

The call comes as analysis reveals City bonuses have reached record levels as banks continue to enjoy sky high profits.

In 2025 the average bonus in the finance and insurance sector was £20,300 – the first time it has topped £20,000. City bonuses grew 6.3% in 2025, which represented the highest growth for three years.

For the economy as a whole, total bonuses in the City amounted to £23.6bn in 2025. Again, this is the highest figure on record.

Using the latest HMRC corporation tax receipt figures, the TUC estimates bank profits were £35.2bn in 2024-25. Over the last three years profits have averaged £36.5bn. This is 57% higher than the average of profits in the three years ahead of the global financial crisis (£23.2bn).

Time for action on banks

The TUC is calling for an increase in the bank surcharge, which it says could raise significant funds over the coming years. Particularly given the scale of banks’ current windfalls,

Bank profits have been turbocharged by the removal of the bank surcharge. And this has come just as high interest rates meant excess profits for banks. Together, this has led to higher returns both from net interest (the difference on interest charged to borrowers and paid to savers) and interest paid to banks on reserves they hold at the Bank of England.

As a result, bank profits are now much higher than they were in the period before the financial crisis. But after the pandemic, the Conservatives slashed taxes on banks.

TUC analysis reveals an increase in the bank surcharge could raise between £23bn-55bn over the next four years:

• A 16% surcharge, which is doubling what it originally was before the Conservatives cut it, would deliver £23bn.
• A 35% surcharge, which would be the same level as the windfall tax the Conservatives imposed on energy companies, would deliver £55bn.
• Even just reversing the Tory cuts and setting it at 8% – which the TUC says is the “bare minimum” – would raise £9bn over the next four years.

The union body also warns that if interest rates remain higher for longer, banks will make even more money.

Public support

Recent TUC polling shows significant support for a windfall tax on banks, with two in three (66%) backing this approach. This rises to 83% among Conservative to Labour switchers in the 2024 general election and 73% among Labour voters from the 2024 election now leaning to Reform.

The TUC is also calling for the government to reinstate the cap on banker bonuses to curb excessive pay for senior City executives while the rest of the country struggles with a continued cost of living crisis.

The EU still has a bonus cap, which seeks to reduce excessive risk taking (of the sort that led to the last financial crisis) and align pay with long-term stability not short-term gains.

TUC General Secretary Paul Nowak said:

Donald Trump’s illegal war abroad risks unleashing economic chaos at home.

It’s absolutely right that the government does everything it can to protect British households and firms from Trumpflation.

The longer this war goes on, the more likely the government will need to step in with increased support.

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That’s why it’s now more vital than ever that banks pay their fair share in tax. Getting banks to contribute more is just common sense.

After the Tories slashed the bank surcharge, high interest rates created a profits bonanza for banks. And if rates remain higher for longer, banks are set to cash in even more.

Instead of lining their own pockets with eyewatering bonuses, it’s only right that banks’ bumper profits are taxed fairly to invest in our hospitals, schools and local councils.

Featured image via the Canary

The Iranian government has said it will destroy all oil facilities around the Gulf region rather than let the Trump-Netanyahu axis get its hands on, or destroy, its Kharg Island oil terminal. The warning came after the US launched an attack of about fifteen bombs on military facilities on Iran’s island. Trump, typically, called the attack:

one of the most powerful bombing raids in the History of the Middle East, [which] totally obliterated every MILITARY target in Iran’s crown jewel, Kharg Island.

The tiny island in the Persian gulf holds an oil terminal handling around 90% of Iran’s oil exports, as well as military defences. Trump has also threatened the oil terminal, and has been obsessed since at least 1988 with taking it for US profits. Iran, however, said it would destroy the whole region’s oil-handling capabilities rather than let his tiny hands touch it.

The IRGC-linked Fars News Agency said on Saturday 14 March 2026 that more the US caused more than 15 explosions targeting Iran’s air defences, airport and naval base. It said that if Trump attacks Kharg or any of Iran’s energy infrastructure:

…all oil and gas infrastructure in the region in which the U.S. and its allies have interests will be set on fire and destroyed.

Given Iran’s success in bombing US bases in the region and Israeli occupied Palestinian cities, few would doubt that Iran is capable of carrying out its threat. This would trigger a global oil crisis as well as almost certainly collapsing the ‘petrodollar’, the main thing propping up the US currency with over 1 Trillion demand on USD annually from the region.

Is Trump stupid enough to gamble that Iran is bluffing? Absolutely. Whether he actually will remains to be seen.

Featured image via Raksha Anirveda

The International Centre of Justice for Palestinians has released a seventeen-page report on Israel’s targeting of Palestinian Muslims. The report, released on the final Friday of Ramadan, documents the rising attacks on Muslims in Palestine.

In recent years, Ramadan has been associated with increased attacks on Palestinians by Israeli police and settlers alike, often working in close collaboration with one another. This report covers longstanding trends of these annual increases in attacks.

It also addresses new administrative measures introduced this year, to curtail Muslims’ ability to observe traditional religious practices associated with Ramadan. This includes bans on traditional roles, as well as bans on decorations and restriction of access to holy sites.

As well as these increased measures during Ramadan, the report also covers Israel’s systematic attack on mosques in Gaza, since the beginning of the genocide in October 2023. In total, Israeli forces have destroyed or heavily damaged about 1,160 out of Gaza’s 1,244 mosques, amounting to 93.2% of total mosques.

Religious apartheid against Muslims

The report comprehensively outlines Israel’s violations with international law. And it also highlights new legislative efforts within Israel to further entrench religious apartheid against Muslims. These include the 2023 Amendment to Counter Terrorism Law and the ongoing ‘Call to Prayer Bill’, both of which infringe upon Muslims’ rights to practise their religion freely.

Finally, the report provides a list of recommendations to both Israel and third state parties. The report calls on third party states such as the UK to explore and enact measures to:

• Ensure the accountability of perpetrators of international crimes, grave human rights violations and abuses by Israel and illegal settlers in the occupied Palestinian territories.
• Comply with all international legal obligations, namely pertaining to the International Court of Justice Advisory Opinion of July 2024 and the Geneva Convention.
• Cease aiding or assisting in the commission of violations.

International Centre of Justice for Palestinians senior legal officer Dania Abul Haj said:

Since the beginning of the war on Iran, Israeli authorities have now ordered the total closure of Al Aqsa mosque, banning worshippers from prayer there and citing ‘safety measures’ which is ironic considering that everything else in the city remains open, including restaurants, cafes, shops, institutions.

It is also ironic considering the decades-long military oppression against Palestinians and the contradiction between statements and practice at times.

Israel is trying to impose a new reality in which they have full control over Al Aqsa Mosque and Haram Al Sharif. However, it is important to remind Israel, that as an occupying power, it has no sovereignty over religious sites in Jerusalem, and this is in contravention with its international obligations.

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Although they have taken part in film and theatre festivals in various European countries, Yousef Shalabi and his team at Jenin Creative Cultural Centre have not visited the UK since 2006. Many changes have taken place since then.

Jenin Creative Cultural Centre — ‘Despite the pain we can celebrate our music’

He tells the Canary:

There’s now a new generation, a new era of suffering and madness in the Middle East. There are lots of changes, but unfortunately they do not give us a better life. Democracy, human rights, the international community and freedom have failed us many times over the years. All the world saw what happened in Gaza, and the unlimited destruction. And this has destroyed the dreams of the Palestinian people of having their independent state. We saw that Europe and the US want to stop the war in Ukraine, but when it comes to Palestinian rights, no one cares. International institutions are also facing collapse, and there is not even support for UNRWA, the last institution supporting the Palestinian refugees. So really, so much has happened.

The musicians from the centre are hoping to return to the UK later this year. Their goal is to show people that despite all the daily hardships Palestinians face, they are carrying a message of hope.

Shalabi says:

We want to live in peace, with dignity, as all other nations do, and to build a future for our kids. Despite the pain, we can celebrate our music and let others enjoy it too. We also want to create awareness among the British people, and let them know we salute them for their solidarity, and their big demonstrations in support of Palestine. Hopefully this tour will happen and will be as successful as the one in 2006.

Psychological trauma and economic hardship part of daily Palestinian life

Jenin Creative Cultural Centre was established in 2005, as a response to the Jenin Refugee Camp massacre of 2002, by the Israeli occupation. Destruction was widespread in the camp, and many residents were displaced. According to Shalabi, there was a growing need at the time for psychological support, especially for the women and children.

Now, more than 20 years later, the needs of the community are greater than ever. The Israeli occupation recently forcibly displaced all 17,000 residents from Jenin Refugee Camp, as part of its campaign to ethnically cleanse the occupied territory of Palestinians. Currently, the West Bank has also been plunged into its deepest economic crisis on record. So the work of the Jenin Creative Cultural Centre has become essential.

But tightened movement restrictions since October 2023, as well as safety concerns due to increased violence by the Israeli occupation forces (IOF), have made it much more difficult for Palestinians to make their way to the centre. So the staff — who are all volunteers — go to the community instead. Shalabi says several of the musicians have faced severe problems, while growing restrictions have also prevented them from getting together to play music.

One musician lost his brother, who was killed by a drone in front of his house in the Jenin camp. Another two became displaced with their families. One of them was Alaa. He toured with the Jenin Creative Cultural Centre 20 years ago, but has now lost everything. It’s so important to have such musicians to play our music, despite the horrible conditions. They used to play to groups of 60 children at the centre, but we now go mainly to the Arab American University.

Art is a tool which can be used to heal Jenin

There are around 600 families currently staying at the university, who were displaced from Jenin Refugee Camp more than 14 months ago. They still know nothing about what has happened to their homes. Many children are among them, so Jenin Creative Cultural Centre also does activities for them, such as facepainting, while running workshops for the women.

While those forcibly displaced from Jenin Refugee Camp are particularly affected by depression and trauma, Shalabi says the daily lives of others in Jenin are no less traumatic, with many having lost family members, and friends. Allowing people to talk about the hardships they have endured is sometimes enough to help them leave behind the traumatic situations they have faced. But sometimes they may need something more.

We see art as a tool, for healing. It creates an atmosphere of peace and relaxation. We wanted to create a safer place, where children can practice hobbies. Our projects, such as our pottery workshop, also help women develop new skills, to enable them to get a livelihood and some income.

An important part of Jenin Creative Cultural Centre’s work is also to build bridges with the international community, and create awareness of the ongoing situation caused by ‘Israel’. Shalabi says they want to invite their friends from around the world to not only volunteer and bring their various skills to the local Palestinian community, but to also live with the Palestinian people, and experience life under occupation.

He adds:

There are also lots of interesting historical sites in the Jenin area, and you can enjoy the Palestinian food. This is an invitation for anyone who is interested to come and see, and live with us, and show the Palestinians your solidarity.

Help Jenin Creative Cultural Centre’s musicians play traditional Palestinian music to a UK audience

Jenin Creative Cultural Centre needs to raise £10,000 for their three week trip to the UK. There are plans for musical evenings to take place in universities, cinemas and centres in both England and Scotland.

The plan is for six volunteers from the centre to take part in the tour, including five musicians. These include a singer, a keyboard player, a traditional Palestinian flute player, and a musician who plays the Oud — one of the oldest string instruments, originating in the Middle East.

Shalabi says:

You will miss a lot if you don’t come. We are sure you will enjoy our performance of Palestinian traditional music, and you will dance. Music is a way to unify people for peace and entertainment, and hopefully we will meet you all with the spirit of happiness.

Please send donations to this link

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As part of the 2024 General Election campaign, Ed Davey rides a rollercoaster at Thorpe Park, 10 June 2024.

1) Performance anxiety and not knowing “what to do”

2) Feelings of shame and feeling “behind”

3) Worries about their desirability and low sexual self-esteem

4) Fear of pain

So… any advice?

4 min read17 min

A senior Liberal Democrat MP told PoliticsHome that at least two Lib Dem MPs — both representing traditionally Conservative constituencies in southern England captured during the party’s 2024 surge — could be tempted to switch to Zack Polanski’s party.

Ed Davey led the Lib Dems to a record 72 seats at the last general election, which made them the third biggest party in the House of Commons. Their gains came largely at the expense of Tories in so-called ‘blue wall’ parts of the country.

Since then, however, there has been growing disquiet within the parliamentary party, with Lib Dem MPs privately questioning the strategic direction and complaining that they have failed to capitalise on the success of 2024.

This restlessness has been fuelled by Polanski’s Greens overtaking the Lib Dems in recent polls. Polanski, previously a Lib Dem, has been credited with sharpening the Greens’ message and expanding their appeal beyond traditional environmental voters.

YouGov this week put the Liberal Democrats in fifth place nationally on 14 per cent, trailing behind Reform, the Conservatives, the Greens and Labour.

“Ed is the most successful leader the party has ever had. He’s won more MPs than ever before, and has a story that genuinely connects with the public. But he’s lost all momentum,” one Lib Dem MP told PoliticsHome.

The same MP added: “There’s a huge opportunity in the centre for the Lib Dems. Ed’s team needs to stop holding back now and really go for it. Otherwise, we’ll just disappear.”

“Everyone’s frustrated,” added a different Lib Dem MP.

Davey has made opposition to Donald Trump a key part of his political agenda, regularly calling on the Labour government to be firmer with the US President.

Internal plans obtained by The Spectator reveal a belief among Lib Dem strategists that their strong opposition to US strikes on Iran will pay dividends at the 7 May local elections.

One memo leaked to the publication reads: “For the first time since the Iraq war… we have a chance to turn a distinctive and principled Liberal Democrat position on foreign affairs into significant election gains.”

However, critical Lib Dems MPs say that, beyond their position on the Trump administration, a lack of a clear policy platform is leaving them with little to talk about.

A Green Party Source told PoliticsHome: “Zack has made it clear that his door is open to anyone who shares the Green Party’s values – but right now he is focused on electing a wave of green councillors, mayors and Sennedd members in May.”

As the party gets together for its spring conference in York this weekend, MPs are starting to wonder whether Davey, who has been Lib Dem leader since 2020, is the right person to lead the party into the next general election.

However, as things stand, there is no sense that his position is under serious threat, nor that there is an obvious successor.

The party’s deputy leader, Daisy Cooper, former leadership contender, Layla Moran, and party president, Josh Babarinde, elected in 2024, are names mentioned by MPs as potential future leaders.

In a recent interview with The House magazine, the Liberal Democrat MP Roz Savage hinted at her own frustrations when asked whether Davey remained the best person to lead the party.

“I can’t say anything about that on the record,” she replied.

One of her colleagues told PoliticsHome: “It’s what everyone’s thinking, she’s just the first to say something publicly.”

Lisa Smart, the Lib Dem MP for Hazel Grove, who is helping devise party strategy, urged colleagues to get behind their leader.

“Ed is the most popular party leader in the country and the strongest voice in Parliament when it comes to standing up to Donald Trump or building closer ties with Europe,” she told PoliticsHome.

“Of course, we have a big bit of work to do coming up with bold new policies as we get closer to the next election, and I’m really proud of all my Liberal Democrat colleagues working hard to do that.”

She added: We are focused on winning, because that’s how we stop Reform, elect more Liberal Democrat MPs and change the country. We have a huge opportunity to win more seats, but also a duty to stop Nigel Farage getting anywhere near Number 10.”

One of the strategic questions facing the Lib Dems is what political direction to pursue as part of their bid to build on their success at the 2024 general election.

There are some MPs, like Savage, who describe themselves as being on the left of the party.

However, there are those who believe the party should continue prioritising former Conservative voters through more centre-right positions on issues like fiscal responsibility.

“We need to be making the case to Conservative voters that we can be trusted on the economy or they won’t vote for us,” said one Lib Dem MP.

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