#bank-tax

#bank-tax

In a report called Fixing the Leak, the IPPR's associate director for economic policy, Carsten Jung, says the Treasury should rein in the costs of QE as public finances are tight. What started as a programme to boost the economy is now a massive drain on taxpayer money, he said. Public money is flowing straight into commercial banks' coffers because of a flawed policy design. While families struggle with rising costs, the government is [in effect] writing multibillion-pound cheques to bank shareholders.