Rachel Reeves urged to raise taxes on companies profiting from war on Iran

Charities say taxes should rise for banks, defence and energy companies which stand to make windfall profits Middle East crisis live Rachel Reeves is being urged to raise taxes on businesses generating “windfall” profits linked to the US-Israel war on Iran to fund emergency cost of living support for UK households. With the government under pressure to…

Key takeaways

Quick scan — what you need to know:

• Charities say taxes should rise for banks, defence and energy companies which stand to make windfall profits Middle East crisis live Rachel Reeves is being urged to raise taxes on businesses…
• With the government under pressure to respond, a group of leading charities, campaigners and trade unions said the chancellor could raise billions by taxing “excess profits” linked to the conflict.
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Background

What led here, in plain terms:

• With the government under pressure to respond, a group of leading charities, campaigners and trade unions said the chancellor could raise billions by taxing “excess profits” linked to the conflict.
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Why it matters

Why readers and decision-makers should care:

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• Charities say taxes should rise for banks, defence and energy companies which stand to make windfall profits Middle East crisis live Rachel Reeves is being urged to raise taxes on businesses…
• With the government under pressure to respond, a group of leading charities, campaigners and trade unions said the chancellor could raise billions by taxing “excess profits” linked to the conflict.